BIDU Selling Overdone? RSI Suggests at $92.18
The stock of Baidu Inc (BIDU) dropped 1.11% to close at $92.18 on August 25.
The technical picture is mixed:
Momentum
RSI at 28.1 is depressed in oversold territory, where bounces often originate. MACD reads -4.94 against its -3.52 signal line (bearish).
Moving Averages
The stock trades below its 9-day EMA ($96.87) with the 21-day ($102.08) acting as overhead resistance.
Volatility
Bollinger Band width at 28.1% indicates normal volatility.
Despite the bearish EMA structure, oversold RSI suggests patient buyers may find opportunity near $89.33.
The $89.33-$118.51 range defines near-term boundaries.
