Let’s be frank – the Baidu $BIDU trade has been dead for quite some time now. 

But look at it now and you’ll see a base that has formed that the stock is finally deciding to emerge out of. 

bidu swing trading strategy

Does that mean you should buy it? Well, remember that it has earnings later this month on April 25th, but that doesn’t mean that it can’t be traded in the meantime. 

And for a little background info – I am not a fan of trading earnings  – I don’t do it with my trades as the outcomes are 100% unpredictable and the risk for massive loss runs high during those periods. 

But for now, BIDU looks like a great setup that may finally be coming around to wanting to climb higher after spending most of last year declining, and most of this year trading sideways amid a raging bull rally. 

So in the chart above I have highlighted two different ways to play it – a buy on the breakout of the triangle base, or buying it on a move above price level resistance. 

The choice is yours!

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