BIDU looking for bullish setup after fire sale last week!

2021年3月29日

Firstly of all, my pair trade setup of BABA/BIDU is really successful. you can check the linked idea below.

Secondly, the free fall of BIDU was triggered by fire sale from a hedge fund who was believed to be default late last week. ViacomCBS, Baidu and some other stocks have been impacted a lot by the liquidation.

Thirdly, look at the free fall angle. I don't think it's sustainable. After the massive sell, I'm looking for bullish setup of BIDU because the fundamental of the company has not changed.

Trigger part: 60 minutes with bullish patterns, e.g. bullish engulfing pattern

I would expect the trade will give us a quick 20%-30% return in the next few days.

2021年3月30日

註釋

I got two setups, one aggressive and another is conservative pullback buy long.

2021年3月30日

註釋

Right. Momentum looks good. aggressive setup is active. Attached is a 1m chart, I can still identify a nice retest setup.

2021年3月31日

註釋

Yesterday is not a bad day. The aggressive setup helped us to get a 2% return. With the gap-up today, I'm eyeing on yesterday's high as short-term trouble. Once penetrated, there should be some room to go up.

2021年4月1日

註釋

Market opens and it looks Bidu is following the strong momentum in HK market where it listed a few days ago. It becomes an important indicator.

2021年4月6日

註釋

Price moved between the range of 216 to 224. Looking for more buyers to come in.

2021年4月7日

註釋

After consolidation, the upper range boundary has been conquered firmly...Now, the probability of further going up is likely.

2021年4月14日

註釋

Alright. It's a fake breakout and price formed a beautiful bullish pattern. Let's see how it respond to previous high.