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Baidu Crosses Above its 10-day MA (BIDU)

By David Diaz

Today, shares of Baidu (NASDAQ:BIDU) have crossed bullishly above their 10-day moving average of $162.33 on a volume of 595K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Baidu share prices have moved between a 52-week high of $217.97 and a 52-week low of $100.00 and are now trading 63% above that low price at $162.54 per share. 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 its subscribers protect gains by selling shares of Baidu on June 10th, 2016 by issuing a Downtrend alert when the shares were trading at $165.73. Since that call, shares of Baidu have fallen 5.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses Baidu

Ticker(s): BIDU