Baidu Stock (BIDU) Ichimoku Cloud Analysis [Video]
|The Baidu stock price broke above the daily Ichimoku cloud end of October 2019. Ichimoku Kinko Hyo strategy suggests we could see a temporary pullback towards the upper band of the cloud before further gains in the medium term. However, the pair has not yet completed the long-term double top bearish reversal chart pattern which suggests the Baidu stock price could drop to as low as $42.
On the other hand, we also have a Saucer Bottom chart pattern forming on the daily chart.
Watch my Ichimoku cloud analysis for the Baidu stock in 2020 to see how I bring all points of the IDDA together.
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