I have been bullish on Baidu.com ever since its IPO. But, at least so far, I have been wrong about its price trend even though BIDU is now trading at 2 1/2 times its IPO price of 27.
Above you will see a daily chart of BIDU on which I have drawn some divisions of its historical range from 60 to 154.
I think BIDU is about to rally with the rest of the market. My minimum expectation is the 1/2 point of its range around 105. However, if enthusiasm builds as is likely during a general stock market advance, a move to 132 or so would be more likely.
1 comment:
do you have any opinion on BOT? it is like CME? any price target?
Post a Comment