Baidu (BIDU) rallies from 2-year channel support

NOV25 0901PST. The ADRs of the Chinese search engine Baidu (BIDU) bounced on Friday (23 Nov) from the support of a nicely-defined 2-year price channel, shown below in dashed red. The rally has come after a November of intense selling pressure, and last week's nadir saw the stock at a more depressed level relative to its 200-day simple moving average (SMA) than has been seen in the last two years (as shown by the oscillator below the price graph).

BIDU. Nov 2010 to present. Daily candles.

The above daily candles chart also shows the security interacting with a more complex collection of three parallel 2-year trendlines, shown in dashed yellow.

Meanwhile, the hourly candles chart of BIDU, reproduced below, demonstrates that the current rally enjoys price channel support from an 8-month channel (shown in dashed red) and a 3-month channel (shown in dashed yellow). At last week's price minimum near $90, the oscillator measuring difference between price and the 200-hour SMA was likewise near its global low (over the chart's timeframe).

BIDU. March 12, 2012 to present. Hourly candles.