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Technology Stocks : Baidu (BIDU) -- Ignore unavailable to you. Want to Upgrade?

To: Lahcim Leinad who wrote (1524)	5/16/2011 11:13:16 AM
From: manalagi	1 Recommendation Read Replies (2) \| Respond to of 2098

We are not out the woods yet: Baidu Inc. (NASDAQ:BIDU) is a leading Chinese internet search engine based out of Beijing, China. The stock has been a leading NASDAQ stock since its initial public offering (IPO) back in August 2005. The stock recently made an all time high on April 28, 2011 at $156.04 a share. Since that high print made just three weeks ago BIDU has sold off by nearly 25.00 points, closing at $131.28 a share on May 13, 2011. The stock looks to have some minor daily chart support around the $131.00 level. Should BIDU stock price decline further, traders can watch for support around the $126.00 and $120.00 levels. Next Friday is options expiration and often beaten down stocks will trade higher during the week leading up to the expiration. Therefore, traders should not rule out short term bounces this week as many institutions will play games with the popular strike prices ahead of options expiration. inthemoneystocks.com