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BIDU ducks 50-DMA

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denial_1 November 8, 2013 (Chinavestor) The most liquid and thus a favorite Chinese stock for US investors, Baidu.com Inc. (NASDAQ:BIDU), fell below its 50 day-moving-average (DMA) for the first time for the past 5 months.

Technical analysts consider it a bearish signal, or more precisely the bullish signal is gone. One of the best bullish signal is when a stock price is climbing and trades above both 50-DMa and 200-DMA. This has been the case for BIDU for most of the past 5 months.

BIDU_50dma_nov13

Right now there is no support for the stock according to the chart above.



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