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Baidu Crosses Below its 10-day MA (BIDU)

By Nick Russo

Today, shares of Baidu (NASDAQ:BIDU) have crossed bearishly below their 10-day moving average of $188.97 on a volume of 991K shares. This may provide swing traders with an opportunity 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 $186.12, 86% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.5%.

SmarTrend recommended that subscribers consider buying shares of Baidu on April 19th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $178.26. Since that recommendation, shares of Baidu have risen 6.5%. We continue to monitor BIDU for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Baidu

Ticker(s): BIDU