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 |
|
|
310 |
|
|
305 |
|
|
300 |
|
|
258 |
|
|
253 |
|
|
248 |
Example of calculation based on weekly trend direction for 1.00 Lot*
|
Baidu |
||||||
|
Pivot Points |
||||||
|
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