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CEO, BIDU leads China stocks higher

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advance4 June 18, 2014 (Chinavestor) The Dow was virtually flat on Tuesday, giving some room for Chinese stocks to catch up with the market. CNOOC Ltd. (NYSE:CEO) advanced the most among major Chinese stocks, followed closely by 51job Inc. (NASDAQ:JOBD) and Baidu Inc. (NASDAQ:BIDU). When industry leaders advance, so does the rests of the sector. This explains the relative strength of stocks like Sohu.com (NASDAQ:SOHU) and Sina Corp. (NASDAQ:SINA) on Tuesday. See following chart to see stocks on the move on Tuesday.

mover_20140617

When it comes to sustainable momentum, investors like to see 50-DMA and 200-DMA charts. This is why we have prepared the following charts for both Baidu Inc. (NASDAQ:BIDU) and CNOOC LTd. (NYSE:CEO).

Good news is that Baidu Inc. (NASDAQ:BIDU) is trading above her 50-DMA and 200-DMA as well. Current pickup in the 50-DMA curve is also a sign of support.

BIDUDMA_20140618


The picture is somewhat different for CNOOC Ltd. (NYSE:CEO). Current stock price remains below 200-DMA and this long-term momentum indicator is still negative.

 

CEO_DMA_20140618



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