CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Baidu

Market Opportunities - 09/02/2021

09 February, 2021

The example below uses Contracts For Difference (CFDs). Calculations are only on the price of the specific instrument on the date below and calculations indicate a possible opportunity for profit or loss. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

Baidu weekly uptrend opportunity based On 1.00 Lot Calculation:

  • Baidu, Inc. is a leading Chinese search engine, knowledge and information centered Internet platform and artificial intelligence (AI) company.
  • Baidu will publish its earnings report on February 17. The company is expected to report EPS of $2.61. The last Q3 EPS beat estimates by a wide margin of $1.04 ($3.13 vs. $2.04 forecast) and strong positive surprise earnings happened in the first two quarters of 2020. Additionally, the company’s revenues rose steadily at an average rate of 15% in the last three years. The Chinese economy is in the strong recovery phase, indicating that Baidu’s earnings trend may well continue into 2021.
  • Baidu hold leadership position in China's autonomous driving industry with the results of the recently-published 2020 Beijing Autonomous Vehicles Road Test Report, in which Baidu Apollo topped industry peers across every testing category for the third consecutive year.
  • Baidu recently announced its plan to establish a company to produce intelligent electric vehicles (EV), and that it has entered into a strategic partnership with multinational auto manufacturer Zhejiang Geely Holding Group ("Geely"). Baidu will provide intelligent driving capabilities to power the passenger vehicles for the new venture, while Geely will contribute its expertise in automobile design and manufacturing.
  • On the competitor’s side, Hyundai Motor reported on Monday that is not in talks with Apple on autonomous vehicle development. Kia filed a similar document.

Baidu, February 9, 2021
Current Price: 279

Baidu

Weekly

Trend direction

UP

Resistance 3

310

Resistance 2

305

Resistance 1

300

Support 1

258

Support 2

253

Support 3

248

Example of calculation based on weekly trend direction for 1.00 Lot*

Baidu

Pivot Points

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

Profit or loss in $

3,100

2,600

2,100

-2,100

-2,600

-3,100

Profit or loss in €**

2,560

2,147

1,734

-1,734

-2,147

-2,560

Profit or loss in £**

2,249

1,886

1,523

-1,523

-1,886

-2,249

Profit or loss in C$**

3,942

3,306

2,671

-2,671

-3,306

-3,942

* 1.00 lot is equivalent of 100 units
** Calculations for exchange rate used as of 09:45 AM (GMT) 9/2/2021
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client Manager regarding their use.
*** You may wish to consider closing your position in profit, even if it is lower than suggested one
**** Trailing stop technique can protect the profit – Ask your Client Manager for more detail

Share It With Your Network
BAIDU Chart
Update Time: -
Highest
Lowest
1M 5M H D W
Prices are loading..
Ready for trading?Start Now