Baidu, Inc.
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BIDU - 14.71% Potential Profit - Bullish Pennant

86
Uptrend Support with a Bullish Pennant forming and price breakout.

Target price set at a new potential resistance line.

- 5-month uptrend
- RSI and STOCH above 50
- MACD above Signal

Suggested Entry $127.52
Suggested Stop Loss $124.15
Target price $146.29

Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss.
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Despite positive earnings, price reacted negatively.

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