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Baidu Crosses Below its 10-day MA (BIDU)

Published on Tue, 01/22/2013 - 12:08
By Mallory Stone

Baidu (NASDAQ:BIDU) crossed under its 10-day moving average of $108.96 on a volume of 2.0 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

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

In the past 52 weeks, shares of Baidu have traded between a low of $85.96 and a high of $154.15 and are now at $108.10, which is 26% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has slid 0.8%.

Baidu (NASDAQ:BIDU) has potential upside of 30.5% based on a current price of $108.10 and analysts' consensus price target of $141.09. The stock should hit resistance at its 200-day moving average (MA) of $115.00, as well as support at its 50-day MA of $99.36.

By Mallory Stone