
BIDU, ~50d/1h

BIDU, 180d/2h
Per Barron's, Baidu managers issued downbeat comments about the firm's 2011 growth prospects during an industry conference, prompting the sell-off.
The selling occurred on heavy volume, resulting in a distribution day and, per theory, deteriorating the technical picture for bulls. Yet BIDU is no stranger to volatility, and the stock bounced briskly after a comparable pummeling on November 16. $100 marks not only strong price channel support but, additionally, "round number S&R" that cannot be discounted too lightly. Longs with a $98 stop might be rewarded in the 2-3 day time period.
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