Baidu.com (BIDU) NewsBite - BIDU Hits 52-Week High As Google (GOOG) Nears China Exit
Posted: Monday, March 15, 2010 10:57 AM EDT
By: Market Intelligence Center Staff
Baidu.com (NASDAQ: BIDU) hit a new 52-Week high of $628.50 so far today. BIDU shares are getting support from reports that Google's advertisers in China have been advised to switch to its rivals, including Baidu and Sohu.com (SOHU). Currently the stock is up $38.27 (6.96%) to $588.51 on 2,491,834 shares traded. Today's high is up $430.51 from a 52-Week Low of $158.00. Baidu.com stock has been showing support around $543.45 and resistance in the $562.87 range. Technical indicators for the stock are neutral and S&P gives BIDU a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on BIDU the stock seems like it could be a candidate for an April out-of-the-money bull-put credit spread below the 520 range. [ABR-Seven Summits Strategic Investments NewsBite]
CLICK HERE: FREE Baidu.com (BIDU) Stock ReportSee what our analysts have uncovered about Baidu.com (BIDU).