TECHNICAL ANALYSIS

BAIDU may trend higher after breaking out from the downward channel pattern a few sessions ago. In view of the stock has posted 6 consecutive white candles and bounced off the 20-day EMA, this signals that the ongoing uptrend is likely to persist. We anticipate the rising momentum will continue to steer the stock higher and test the next level of resistance in the near term.

Fundamentals

Net profit is expected to grow at a CAGR of 13% for the next 3 years with strong net margins ranging between 19%-21%.

Source: Rakuten Research - 30 Apr 2024

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