Baidu

Special Reports - 23/02/2021

23 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 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.
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. The company already appointed a chief executive officer and decided on a brand for its electric vehicle (EV) venture with Geely.

Baidu, February 23, 2021
Current Price: 300

Baidu	Weekly
Trend direction	UP
Resistance 3	370
Resistance 2	355
Resistance 1	340
Support 1	260
Support 2	245
Support 3	230

Example of calculation base 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 $	7,000	5,500	4,000	-4,000	-5,500	-7,000
Profit or loss in €**	5,762	4,527	3,292	-3,292	-4,527	-5,762
Profit or loss in £**	4,973	3,908	2,842	-2,842	-3,908	-4,973
Profit or loss in C$**	8,828	6,936	5,044	-5,044	-6,936	-8,828

* 1.00 lot is equivalent of 100 units
** Calculations for exchange rate used as of 09:00 AM (GMT) 23/2/2021
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 details

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