Baidu Bull Flag Signals Surge Coming

By Gareth Soloway of In the Money Stocks

President & Chief Market Strategist at IntheMoneyStocks • Apr 26, 2021 at 3:30 PM EDT

The Baidu bull flag over the last three weeks looks to breakout in the coming days with upside to $278.00 as a first target.

Shares of Baidu Inc (BIDU) are looking attractive from a technical chart setup. The Baidu bull flag over the last three weeks looks to breakout in the coming days with upside to $278.00 as a first target. With the current price around $217, swing traders could see as much as a 28% return in weeks to a few months.

Baidu fell from a two-week high of near $350 in February 2021, bottoming out at a low pivot of $174.00. The current bull flag can easily be seen in the stock chart and a breakout surge will likely take place when price climbs above $221.00 on a daily closing basis. This is a solid swing trade setup for investors.

(Click on image to enlarge)

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