Market Overview

Baidu In Break-Out Mode

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Baidu Inc (ADR) (NASDAQ: BIDU) shares are trading higher by $5.45 at $210.18 in Thursday's session. The issue has not over doubled since it Flash Crash low ($100) was made on August 24.

From November 4 until Wednesday rallies in the issue have stalled near the $200 level. However, on Wednesday it cleared the level and ended the session just off its high at $204.73.

After bottoming off its opening print ($204.65), it reached $210.70 and is not far off that level. This $210 level did provide some resistance for the issue back in late July.

Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.

Do you like this article? Do you have suggestions for improvement? Please email feedback@benzinga.com

Posted-In: Premarekt outlookTechnicals Intraday Update Movers Trading Ideas

 

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