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Baidu

Market Opportunities - 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 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.
  • 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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