Baidu, Inc. : An appropriate purchase level
Entry price | Target | Stop-loss | Potential |
---|
US$223.85 |
US$0 |
US$208.06 |
-100% |
---|
Take advantage of the forming bullish trend.
According to Surperformance ratings, the group has strong fundamentals, indeed, net earnings are expected to grow by 27% between 2013 and 2014. In addition, analysts have been revising upward their earnings estimates and nowadays expect a profit of USD 39.33 per share for the current year.
Following a bullish wave, the stock now shows a slight decline. It has just touch the USD 217.5 midterm support, which correspond to the lower trendline of an upward canal and has rebound on it. At this level, a re-boost of buyers flow would enable an upturn toward the short term resistance at USD 236.5.
In presence of this pattern investors could take a buyer position on current levels in order to benefit of an upcoming upward movement. A stop loss should be set below the medium term support.
The content herein constitutes a general investment recommendation, prepared in accordance with provisions aimed at preventing market abuse by Surperformance, the publisher of MarketScreener.com. More specifically, this recommendation is based on factual elements and expresses a sincere, complete, and balanced opinion. It relies on internal or external data, considered reliable as of the date of their release. Nevertheless, this information, and the resulting recommendation, may contain inaccuracies, errors, or omissions, for which Surperformance cannot be held responsible. This recommendation, which in no way constitutes investment advice, may not be suitable for all investor profiles. The reader acknowledges and accepts that any investment in a financial instrument involves risks, for which they assume full responsibility, without recourse against Surperformance. Surperformance commits to disclosing any conflict of interest that may affect the objectivity of its recommendations.