Here’s how we are staying in Baidu ($BIDU)…and WHY we’re staying in. (December 15, 2020)

by DAN BIDU 
I want to look at Baidu ( NASDAQ: BIDU ). Baidu ( NASDAQ: BIDU ) is one of the superstars on my Active Trade List. We got members into this at $140.00 a while ago and now it’s doing really well, we’re up over 35 percent, I guess.

I wanted to go through this and give you a sense of what I was looking at. This is a weekly chart and I think it’s really, really important to look at weekly charts, they will tell you so much about what institutions are doing. The daily charts, they certainly give you the trend, they give you the daily trend and weekly charts give you the weekly trend.

The daily charts have a lot more noise in them; obviously, they are 5 bars as opposed to 1. But they also kind of give you the ebbs and flows that are really just a sense of where institutions are buying, where they are selling. So basically, the daily chart, I look at it this way, these are the stock manipulators. They are the ones that actually manipulate the prices; you can see it in an uptrend. If the price gets too high manipulators knock it down a little bit so they can buy it a little bit lower. If it falls further then they will buy the stock just to halt the sell-off so they can keep the stock propped up.

This is just the way I look at it. I see different players on a daily chart than I do on a weekly chart, but the weekly chart really controls. That really, really controls what I am looking at because I want to be where the institutions are. I want to be sitting in the front of the train that they are pushing and they are continually buying stocks; maybe even competing with each other for shares, I want to be there and so I look at these weekly charts.

What I see with Baidu ( NASDAQ: BIDU ) is a stock that is really rocketing. I took partial profits on this just because I think you have got to sell into strength, you need to be doing this. You definitely don’t want to sell everything but you do what to be selling some into strength so that you are not chasing it down.

As I see this stock from the very bottom to the top here, I got $65.00 or so, so we spread this out to the upside and right about here, 215.00, so I give this a price target of 220.00, not in the next week or two. But my suspicion is, in the next few months we should see this at a nice move up to 220.00, so that’s really what we are trading for.

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