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Baidu Inc. (BIDU) - Reward to Risk for Going Long Around 177

Baidu Inc. (BIDU) is essentially in a sideways market, but has shown some bullish bias in 2017 as it made a higher low and higher high as we can see on the daily chart below. However, we can also see that this bullish bias is still within the context of a range between 155.30 and 201.

BIDU Daily Chart

(click to enlarge)

So, we have established 1. bullish bias in 2017, which suggests buying on a dip. 2. The target would be limited to around 200 to remain in the context of the overall sideways mode. 

Support:
- The market provided support at 173.50. I think this could be the pivot that starts the next upswing. Therefore, a stop would have be below it, let's say 172.50. 
- Now, we saw price rejected from going above 180, so I think we might see a short-term dip towards 177. I think 177.50 could be a decent entry point for a long trade. But let's consider the reward to risk profile first.
R:R Profile:
- As far as targets go, I think we have a conservative target at 188 and an aggressive target at 200. 
- Given the entry at 177.50 and stop at 172.50, the conservative reward to risk is slightly better than 2:1.
- The aggressive target has a reward to risk profile of 4.5:1. 
This average of about 3.25:1 reward to risk is attractive especially when the conservative target is better than 2:1.