Published on Wed, 09/14/2011 - 11:02
By FNN Staff in Moving average crossovers, BIDU, baidu, moving crosses, nasdaq:bidu

Baidu (NASDAQ:BIDU) crossed over its 10-day moving average of $144.70 on a volume of 3.6 million shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Baidu, Inc. operates an Internet search engine. The Company offers algorithmic search, enterprise search, pay for performance and news, MP3, and image searches.

There is a potential upside of 28.7% for shares of Baidu based on a current price of $147.56 and an average consensus analyst price target of $189.93. The stock should find initial support at its 50-day moving average (MA) of $145.07 and further support at its 200-day MA of $128.89.

Over the past year, Baidu has traded in a range of $85.13 to $165.96 and is now at $147.84, 74% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.2%.