After Yesterday's Rally of 1.90% Shares Could Potentially Pullback
Baidu (NASDAQ:BIDU) traded in a range yesterday that spanned from a low of $159.46 to a high of $163.89. Yesterday, the shares gained 1.9%, which took the trading range above the 3-day high of $162.87 on volume of 1.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
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 3.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
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 $163.45 per share. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.5%.
Keywords: rebounders Baidu