BIDU closes within previous day's range after lackluster session
Baidu Inc. (BIDU) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
BIDU finished the week -6.6% lower at 220.10 after gaining $0.21 (0.1%) today. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session.
Daily Candlestick Chart (BIDU as at Aug 10, 2018):
Friday's trading range was $5.39 (2.48%), that's below last trading month's daily average range of $7.01. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being above average.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
With prices trading close to this year's low at 207.74, downside momentum might accelerate should the stock break out to new lows for the year.