Is a Breakdown in the Horizon for Baidu?

Published on Tuesday, 31 August 2010 16:13 Written by The Trader Next Door

New York, Aug 31^st (TradersHuddle.com) – Shares of Baidu (NASDAQ:BIDU) ended the trading session higher by 1.53%, closing above the $78 mark and topping the weak tape as Baidu shares traded higher pretty much the majority of the session after a sharp reversal at the open setting a pivot low of $76.

Baidu provides Chinese language Internet search services primarily in China and Japan. The Company offers algorithmic search, enterprise search, pay for performance and news, MP3, and image searches.

As the weaker tape continues to haunt the overall markets, even the strong growth stocks like Baidu are suffering to establish bullish trade, in the case of Baidu we can see a consolidation range after a break down from a strong uptrend which could be a {module 212}Please Login to See Member Only Content -- It's Free

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