Baidu (BIDU) – Search Expansion – November 30th, 2020
The bullish DailyPlay for Monday, November 30th is Baidu (BIDU). BIDU has experienced an 6.67% gain over the past month as the company expanded into video content, cloud services and IoT devices.
- BIDU has a 70% market share of search engine traffic in China while expanding and diversifying its business beyond search,
- Cloud computing now makes up 10% of revenues and margin expansion warrants a higher valuation
- Earnings: Feb 25th (91 Days)
- Pullback to $133 support level, bounce higher and breakout above $138 provides further upside
- Both 1M and 6M trends are turning bullish
- Strong relative strength, technical score (7 out of 10)