Baidu main trend is up, new bullish technical picture on daily chart. Quotes are above the 14 days moving average.
Baidu Inc., January 5 stock closing price was 177.47 (+3.20%). Marked a series of 3 consecutive higher highs and the third consecutive positive trading session. New bullish technical picture drawn on daily chart (high2 < high1, high1 < high, low2 < low1, low1 < low, close > close1, close1 > close2), we suggest to watch today closing. The main trend is up on the daily chart, the bulls are in control. The positive values of many leading oscillators support the upward trend.
View the interactive chart on ProRealTime.com
Simple Moving Average (SMA)
Baidu stock quotes are above the 14 days moving average (SMA value is 166.36). The short term view is therefore bullish, however for today trading session we can’t exclude retracements towards the most significant support levels.
Baidu daily chart shows an increase in volumes compared to the previous day. This could be a sign of a significant move to come.
Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 05/01/2017.
Performance: 7 trading days= +7.71% – 15 trading days= +4.50% – 30 trading days= +7.90%
Resistance levels: R1= 179.37 – R2= 181.28 – R3= 186.62
Pivot Point: 175.94
Support levels: S1= 174.03 – S2= 170.60 – S3= 165.26
Buying opportunity above 177.86, targets minor resistance at 180.06 and perhaps as far as strong resistance at 181.61, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 185.53.
Selling opportunity below 176.44, targets minor support at 174.26 and perhaps as far as strong support at 172.75, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 168.92.