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The Long Investor - $BIDU
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$BIDU has now pulled back to within reach of $74, which was the low of the left shoulder here, and is looking to complete a head and shoulders pattern.
Now I want to see the price break back above the 0.78 Fib at $78... then we're looking for a higher low to confirm the reversal.
The financials also offer a lot of encouragement
AI Cloud infrastructure revenue grew 50%, while GPU Cloud revenue surged 283%.
Core AI revenue grew 25% and now represents 50% of General Business revenue.
Total cash and investments stood at $41.7 billion, including restricted cash... this is not net cash.
Operating cash flow was positive for a fourth consecutive quarter, while net income reached $342 million.
Ultimately, $BIDU is in the Buy Zone for those who are bullish here and I do believe the upside is substantial.
The 200 WMA is at $110, and I believe we'll see $BIDU challenge that level from below sooner rather than later.
$BIDU has now pulled back to within reach of $74, which was the low of the left shoulder here, and is looking to complete a head and shoulders pattern.
Now I want to see the price break back above the 0.78 Fib at $78... then we're looking for a higher low to confirm the reversal.
The financials also offer a lot of encouragement
AI Cloud infrastructure revenue grew 50%, while GPU Cloud revenue surged 283%.
Core AI revenue grew 25% and now represents 50% of General Business revenue.
Total cash and investments stood at $41.7 billion, including restricted cash... this is not net cash.
Operating cash flow was positive for a fourth consecutive quarter, while net income reached $342 million.
Ultimately, $BIDU is in the Buy Zone for those who are bullish here and I do believe the upside is substantial.
The 200 WMA is at $110, and I believe we'll see $BIDU challenge that level from below sooner rather than later.
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