Whilst the main indexes closed slightly lower, Baidu (BIDU) closed significantly higher, +4% @ $105, after an opening peak of $108. Near term trend remains to the upside, although the stock is clearly getting somewhat overbought - along with the main market.
BIDU has been battling higher - along with the main equity market, from a recent low of $88.
Today's daily candle, is a bit of a weird one, an 'island candle' I guess it could be called. Yet, the primary price trend looks comfortably to the upside.
BIDU is an extremely profitable website based company, with net profit margins of a rather astounding 44%. see key stats @ Yahoo! finance
Today's announced acquisition of a Chinese app' maker is the primary reason for the price jump, but still..BIDU remains one of the best tech-software companies out there.
Even a pull back to test the now broken 200 day MA of 97/98 will do nothing to negatve the primary upward trend.