Here is what I said a couple of weeks ago in my playbook for Baidu: The recent missed earnings may further push it down to a lower level. It has broken out its support around 175. Given being a little bit oversold, it may bounce back to 175, a resistance now. I doubt it can break this out. If I'm right, look for more downsides for BIDU. Its next strong support will be around 150.
Amazingly BIDU has followed exactly the path that I have paved for it: it did bounce back to $175 and then turned around to plummet again to $164 as I'm writing. Unless some unexpected positive news pops up, BIDU is almost for sure will go down to test its next support around $150. Any attempt to rebound will likely fail before it finishes its downtrend.
You can love its services and functions but don't fall in love with its stock, at least for now.
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