This Is What Whales Are Betting On Baidu
Portfolio Pulse from Benzinga Insights
A whale investor has taken a bearish stance on Baidu (NASDAQ:BIDU), with 60% of detected trades having bearish expectations. Whales have been targeting a price range of $85 to $180 for Baidu over the last 3 months. BIDU's price is up 4.66% at $138.44, and RSI indicators suggest it may be approaching overbought.
June 06, 2023 | 6:01 pm
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Whale investor's bearish stance on Baidu (NASDAQ:BIDU) may impact the stock price. BIDU is up 4.66% at $138.44, and RSI indicators suggest it may be approaching overbought.
The whale investor's bearish stance on Baidu indicates a potential negative impact on the stock price. With 60% of detected trades being bearish and the stock price already up 4.66%, the RSI indicators suggest that the stock may be approaching overbought territory, which could lead to a price correction in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100