Falling wedge pattern formed with strong fundamentals for BIDU

With an earnings and revenue beat, Baidu is poised for a bearish upward trend once headwinds from delisting and clampdown from the Chinese government are decoupled from the company. Technical analysis shows Baidu trading are key Fibonacci levels and forming a falling wedge pattern.

Price Target:
Near term: 212.08, with a 60% confidence
Mid-term: 260.87, with a 50% confidence

Risks:

• Bear flag wrongly recognized as a bearish falling wedge (somewhat likely)
  
• Government clampdown (unknown)
  
• Delisting (least likely)