Trading idea for Baidu Inc. (NASDAQ)

The trend is upward. The stock is trading between the 365 and 135 EMAs. The downward wave structure is truncated. On the Awesome Oscillator there is a bullish divergence, and the Stochastic Oscillator indicates oversold conditions.

Trading idea:

Buy upon the formation of an upward wave structure, where wave (A) breaks the descending channel of the truncated pattern.

Stop Loss — 116.20.

Target levels — 128.00; 139.00.