Meanwhile, HSBC Securities downgraded its Baidu Inc ADR [BIDU] rating to a Hold from a a Buy in a research note published recently. A number of analysts have revised their coverage, including Bernstein’s analysts, who decreased its forecast for the stock in late August from “an Outperform” to “a Mkt perform”. Jefferies also remained covering BIDU and reiterated its “Buy” recommendation on July 15, 2024. Citigroup maintained its rating on July 15, 2024. It rated BIDU as “a Buy”.
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Price Performance Review of BIDU
On Tuesday, Baidu Inc ADR [NASDAQ:BIDU] saw its stock jump 7.40% to $94.81. Over the last five days, the stock has gained 11.03%. Baidu Inc ADR shares have fallen nearly -20.39% since the year began. Nevertheless, the stocks have fallen -28.36% over the past one year. While a 52-week high of $136.53 was reached on 01/05/24, a 52-week low of $79.68 was recorded on 08/05/24. SMA at 50 days reached $86.39, while 200 days put it at $99.51.
Levels Of Support And Resistance For BIDU Stock
The 24-hour chart illustrates a support level at 92.66, which if violated will result in even more drops to 90.51. On the upside, there is a resistance level at 95.92. A further resistance level may holdings at 97.04. The Relative Strength Index (RSI) on the 14-day chart is 70.59, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 4.80, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 0.53%. Stochastics %K at 87.86% indicates the stock is a selling.
How much short interest is there in Baidu Inc ADR?
A steep rise in short interest was recorded in Baidu Inc ADR stocks on 2024-08-30, growing by 1.23 million shares to a total of 8.7 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-31 was 7.47 million shares. There was a rise of 14.09%, which implies that there is a positive sentiment for the stock.
