Baidu – Class A (Code: 9888.HK) Breakout Trade
Published On: 17 March 2023, 3:00PM | Huang Zixing, Dealer
Trade Set-up:
- From the daily chart above, we see that Baidu – Class A (Code: 9888.HK) has been in a downtrend since last month following its prior rally.
- Currently, price appears to be rejecting the resistance level (grey line) at HK$142.
Trade Execution:
- We can potentially take a long trade if price stays above the resistance level (grey line).
- If price crosses below the resistance level, we can short it at HK$140 and take profit at the HKD$123 support level (green line).
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