$BIDU RR Setup

Nice consolidation pattern in BIDU

Logic:

  • Good support at the 160 levels (good RR entry/exit)
  • Tightening/sideways movemnt of the MAs (grey rectangle box highlight)
  • Seeing upside based on low P/E ratio compared to market P/E ratio
  • BAT = Bidu, Alibaba, & Tencent