Baidu Shares Rally On Better-Than-Expected Earnings
Apr, 29th 10:47
U.S. listed shares of Baidu Inc. (BIDU) gained in Thursday’s extended session after posting its quarterly earnings that beat analyst estimates. Revenue forecasts for the current quarter have also topped analyst projections, as China’s biggest search engine provider controlled its spending and increased sales from new businesses. As seen from the hourly chart, the stock last traded at 185.50. RSI has been hovering below 50, which shows that the rally hasn’t been confirmed yet.