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SFUN, BIDU lack critical support

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internet_2 March 20, 2014 (Chinavestor) The following Chinese stocks continue to show weakness despite a resurgent market. The Dow Jones Industrial Average (INDEXDJX:.DJI) fell hard on Wednesday on Yellen's testimony but changed course and rose 108 points the next day. Still, some of the most liquid Chinese trading stocks continued the decline. SouFun Holdings (NYSE:SFUN) fell $7.47 or 8.9% today. SFUN is off 18% in the last five trading days! Baidu Inc. (NASDAQ:BIDU) fell $3.10 while 51job Inc. (NASDAQ:JOBS) declined $3.47. Sohu.com Inc. (NASDAQ:SOHU) and China Mobile (NYSE:CHL) fell hard both days as well.

See following chart: Chinese stocks on the move today, March 20, 2014.

mover_20130320

And this is what Chinese stocks did a day before, March 19, Wednesday. Note that Baidu Inc. (NASDAQ:BIDU) fell the hardest followed by SouFun Holdings (NYSE:SFUN). Both stocks lack critical support during these volatile market days. This makes BIDU and SFUN especially vulnerable.

mover_20130319

 



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