BIDU - breaks to the upside

With good earnings, Baidu (BIDU) soared, closing +11% @ $125. Trading was somewhat choppy though, and BIDU closed below a spike high of $132, but above the intra-day low of $120. Despite the closing black-fail candle, BIDU looks outright bullish.


BIDU, daily

Summary

BIDU continues to have some of the best profit margins out there, and it is no surprise to have seen it break the old resistance.

With the break above the Jan' high of $114, BIDU is very unlikely to stop at current levels.

In terms of key price targets for the (6-9 month) mid-term: 135, 150, 160.
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If the main market rallies 'broadly' into spring 2014, there is little reason why BIDU won't comfortably be testing the 150/160 zone.