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Baidu Crosses Below its 10-day MA (BIDU)

By Amy Schwartz

Today, shares of Baidu (NASDAQ:BIDU) have crossed bearishly below their 10-day moving average of $189.57 on a volume of 5.2 million 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, shares of Baidu have traded between a low of $100.00 and a high of $223.95 and are now at $179.43, which is 79% above that low price. The 200-day and 50-day moving averages have moved 0.01% lower and 1.88% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Baidu on February 18th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $163.14. Since that recommendation, shares of Baidu have risen 19.1%. 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