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Wednesday, May 10, 2006
Here is a daily chart of Baidu.com, the Chinese version of Google. I last commented on this chart here.
After yesterday's close Baidu announced earnings and BIDU has since rallied over 80. There is resistance at 83, the 1 7/8 multiple of the 44.44 low, but any reaction from there should find support near the 70 level.
A reasonable upside target for BIDU is the 93 level, the 2 1/8 multiple of the 44.44 low.