Baidu Crosses Below its 10-day MA (BIDU)

Published on Thu, 04/30/2015 - 11:07
By Peter Chu in Moving average crossovers, BIDU, baidu, moving crosses, nasdaq:bidu

Baidu (NASDAQ:BIDU) crossed under its 10-day moving average of $213.99 on a volume of 5.7 million shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Baidu have traded between a low of $148.16 and a high of $251.99 and are now at $206.07, which is 39% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.3%.

There is potential upside of 20.9% for shares of Baidu based on a current price of $206.07 and an average consensus analyst price target of $249.10. The stock should run into initial resistance at its 50-day moving average (MA) of $210.06 and subsequent resistance at its 200-day MA of $219.20.

Baidu, Inc. operates an Internet search engine. The Company offers algorithmic search, enterprise search, pay for performance and news, MP3, and image searches.

By Peter Chu
pchu@fnno.com

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