Baidu is about to soar
October 05, 2011
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RELATED TICKERS: BIDU
COMPLETE ARTICLE AND GRAPHS
A company that continue to pop up in the news is Baidu (BIDU) which a lot of people call the Chinese Google (GOOG), A recent partnership with Microsoft's (MSFT) Bing search engine should now give them access to the large English language segment they needed, Right now with the stock selling at a 36% discount from its one year high you might want to consider this high flyer. The one year trading graph provided by Barchart shows a great buying opportunity:
Barchart technical factors:
1 - Barchart's technical indicators are based on short term, 1 to 6 month price movements. Short term sell signals can signal a buying opportunity if the company has good fundamentals and a wide following
2 - 80% Barchart technical overall technical sell signal - most of the 13 indicators are weakening from the sell side
3 - Trend Spotter sell signal - also weakening
4 - Trading below its 20, 50 and 100 day moving averages
5 - 36.48% off its one year high
6 - Relative strength Index is 28.63% and still weakening
7 - Barchart computes a technical support level at 102.62
8 - Recently traded at 106.01 which is below its 50 day moving average of 137.93
Summary - I'm placing Baidu (BIDU) on my watch list. I like to acquire companies that have a large following, projections of double digit sales and earnings and have current upward price momentum. Right now the stock has the first 2 criteria and I'm waiting for the market to turn to give me the last one. Maybe as early as this week
Jim Van Meerten is a Marketocracy Master
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