Baidu, often moving in tandem with Alibaba, has shown some interesting developments on its chart that suggest a potential investment opportunity. Like Alibaba, Baidu has been the subject of considerable trading interest, especially following its recent technical breakout. Overview of Current Chart Patterns: The price of Baidu was previously locked within a falling wedge pattern, delineated by orange lines on the chart. This pattern is typically associated with a bullish reversal following a downward trend. In May, Baidu's stock broke out from this wedge, signaling a shift in market sentiment from bearish to bullish. Significance of the Fibonacci Levels: Following the breakout, Baidu's price also surpassed the 23.6% Fibonacci retracement level, reinforcing the strength of the bullish momentum. This breakout is crucial as it confirms the potential for further upward movement, provided the stock remains above the upper line of the wedge. Future Price Targets: Looking forward, the 38.2% Fibonacci level is the immediate target, offering a potential short-term goal for investors. However, the more ambitious target lies at the 50% Fibonacci retracement. This level has historically acted as both support and resistance throughout 2023, including a notable resistance in November. Reaching this level would not only demonstrate significant recovery but also establish a strong mid-term bullish thesis for Baidu. For investors and traders, the current setup in Baidu suggests a promising buy signal, assuming the price sustains above the wedge’s upper boundary. This scenario presents an opportunity to capitalize on the upward trajectory, with specific price targets providing clear benchmarks for potential profits.