April

Million

Resistance

View

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>BIDU stock price surged 0.41% in the last trading session and is currently trading at $155.99.</a> </li> 
 <li> <span>2</span> <a>Baidu Share (NYSE: BIDU) has good value based on its price-to-earnings ratio (28.5x) compared to the peer average (65.4x).</a> </li> 
</ul> 
<p>Baidu Inc. is a Chinese internet company that provides search and other services. It has Baidu App, Baidu Search, Baidu Feed, Baidu Health, and Haokan as its main products.</p> 
<p>Baidu’s share price is currently trading at $155.99, inclining 0.41% in the last trading session. BIDU stock holds a market cap of $54.4 Billion. It has a total of 345.5 Million shares outstanding. The PE ratio for the stock is 28.5. The stock has a price/sales ratio of 2.85.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh3.googleusercontent.com/ZFn69ECd3SUhERjzjm9YC6oDo9F6uiSS7honv8GvSHtpCjvP6-iSwHqL0FnUw4PqW_4C0AFid2FqI680DiW6VSUrRv7s8evM2HJh3tJ_L9l2cEV90JlIp-rMFGBsNlH-N4Z09oFzjxQnJGWoOmb4768" alt="BIDU Stock Price Prediction: Can Results Add Thrust to Baidu?"> 
  <figcaption class="wp-element-caption">
    Source: barchart.com 
  </figcaption> 
 </figure> 
</div> 
<p>BIDU stock derivatives data states that the current implied volatility in the market is 50.22% with an increment of 0.15% in the last trading session. It has a total of 203.9K open interest contracts as of now. The PUT/CALL ratio is 0.76, indicating a neutral to bullish sentiment in the market, as per the data.</p> 
<h2 class="wp-block-heading" id="strong-bidu-stock-price-prediction-using-price-action-strategy-strong"><strong>BIDU Stock Price Prediction Using Price Action Strategy</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh3.googleusercontent.com/AF6aLi4tQGe9qEoGc7OqAa1_IC1fX56YZdaDa-B3u2keLogX6_2YBQekzBbHF0GBhUt_bUhPixGojtaCCewGdO_0GnPiVGFthRk5jBUanFL-0bYNB3eDE3ZrNM9OYtLPu3taekzFknEOWcY7se-qJh0" alt="BIDU Stock Price Prediction: Can Results Add Thrust to Baidu?"> 
  <figcaption class="wp-element-caption">
    Source: BIDU. 1D. NYSE By <a href="https://www.tradingview.com/x/nYzyiXvl/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>BIDU share price analysis reveals the stock topped out in March 2023 and declined nearly 27% in April 2023 to the previous breakout zone. Thereafter, the price took a rebound from the demand zone and surged higher, showing the presence of buyers near the demand zone. The price again made a dip but ended up bottoming out in May 2023. Then, the buyers took control and the price hiked, forming higher lows and higher highs.</p> 
<p>Currently, the price has formed a rising wedge and is trading near the upper trendline of the rising wedge. The price seems to be losing momentum at the upper trendline of the wedge. The stock needs more buyers to sustain at the current level and surge higher.</p> 
<p>However, the results are awaiting which may possibly add new momentum and the stock may experience a breakout with high volume.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-bidu-share-price-forecast-from-indicators-point-of-view-strong"><strong>BIDU Share Price Forecast from Indicators’ Point of View</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/DsKdteVjo7XSWsSbKbL_-14oQxJsdm3qY28QQ1Dm1Y2xZD7wfV4dDm2WoYceg4wn6JNr1lZ0LcgCsZL2VdL0MJaUdnjhBjdVpXQeMy6i4xuyhWdCy4BgOzp6thxdHGOucS4UHh7MOIgsgakrVsmZnCQ" alt="BIDU Stock Price Prediction: Can Results Add Thrust to Baidu?"> 
  <figcaption class="wp-element-caption">
    Source: BIDU. 1D. NYSE By <a href="https://www.tradingview.com/x/nYzyiXvl/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>As per the EMA analysis, <a href="https://www.thecoinrepublic.com/2023/07/24/baidu-inc-bidu-stock-price-melts-before-earning-results/" target="_blank" rel="noopener noreferrer nofollow">the BIDU stock price</a> is trading above the 50 EMA and surged higher after getting support, which indicates the short-term presence of buyers in the market. Also, the price is trading above the 200 EMA, which gives a positive long-term view until the price remains above it.</p> 
<p>At the time of publishing, the RSI value of the BIDU share price is 64.99 and that of the SMA line is 58.28. RSI is showing a divergence between the price and the momentum, which indicates a possible correction.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>BIDU stock price topped out in March 2023 and declined nearly 27% in April 2023 to the previous breakout zone from where it rebounded from the demand zone and surged higher.&nbsp;</p> 
<p>Currently, the price has formed a rising wedge and seems to be losing momentum near the upper trendline of the wedge. BIDU stock price prediction concludes the stock needs more buyers to accumulate and sustain near the lower levels. Also, the results are awaiting, which may affect the price to surge higher before the disclosure of the results.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support levels:</strong> $139.08 and $128.19.</li> 
 <li><strong>Resistance levels:</strong> $155.99 and $171.3.</li> 
</ul> 
<h4 class="wp-block-heading"><strong>Disclaimer</strong></h4> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

BIDU Stock Price Prediction: Can Results Add Thrust to Baidu?

Table of Contents

Thecoinrepublic.com

Other articles published on Aug 1, 2023

Boeing Stock Price Prediction: BA Stock Gains 15% After Results?

Uniswap (UNI) Down 1.20% After Whale Decides To Take Profit

Avalanche (AVAX) And Cardano (ADA) Drive Investors Away, VC Spectra On Track For A 900% Growth

Bitcoin’s Reduced Volatility Sparks Anticipation for Exciting Long-Term Bull Signal

Exploring the early CBDC adoption results beyond the hype

Best Presale in 2023? Chancer, Hands Down. Why Whales Are Impressed With Its $1.0m Raise

Join our free newsletter for daily crypto updates!