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Baidu Inc Resistance Level Quickly Approaching



October 01, 2013 – Comments (1) | RELATED TICKERS: BIDU

Baidu Inc (NASDAQ:BIDU) continues to surge higher today. The stock is trading at $157.56, +2.38 (1.53%). Baidu Inc is up from the $88.00 level since July 2013. This is a massive gain of 80% in just three months. While the bulls are cheering, smart investors may have an amazing opportunity to short it. The 2011 high on Baidu is $165-$166. This is also a max move extension level. Smart traders can short the stock here for at least a 10% pull back.

Gareth Soloway

1 Comments – Post Your Own

#1) On October 01, 2013 at 10:48 PM, austinhippie (69.56) wrote:

I wouldn't. Personally, I'm long BIDU and I wouldn't be surprised either by a new all time high or a small pull back before a surge. Either way, look at the numbers. It's margins are incredible and this company is #1 in its space. I decided to shave off a small portion of my own BIDU shares today, but left about 90+% of it in place. 

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