Baidu Bearish Moving Average Crossover Alert (BIDU)
Baidu (NASDAQ:BIDU) shares have crossed bearishly below their 10-day moving average of $189.22 on a volume of 995K 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, Baidu share prices have been bracketed by a low of $100.00 and a high of $217.97 and are now at $186.64, 87% 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 0.2%.
SmarTrend recommended that subscribers consider buying shares of Baidu on August 15th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $171.98. Since that recommendation, shares of Baidu have risen 11.0%. We continue to monitor BIDU for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses Baidu