Opinion on  Baiducom Inc ADS (BIDU)     Sector: Technology  >  Industry: Computer Services
Baidu

Here is a weekly chart of Baidu.com. I last commented on this stock here .

I have drawn two long term boxes on the chart, each 109.54 points high. I think it likely that BIDU will reach the top of the second box, riding the crest of the wave of speculation in China. It will probably falter temporarily near the 1/2 division point of that box which stands at 208.75.

Support in the meatime is at 165.

Here is a weekly chart of Baidu.com. I last commented on this chart here.

As you can see BIDU has finally reached my long term target near 270, a target that was ridiculed by many back in 2005 when I first posted it.

As yet there is no sign that the bull market in Baidu is over but the 270 level is very strong resistance. So I think BIDU is going to take a breather here. Support beneath the market is now at 210.