Start Trading Now Get Started
Table of Contents
Affiliate Disclosure
Affiliate Disclosure DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

Baidu Rising as it Invests in Uber - 15 December 2014

By Stephanie Brown
Since graduating from Erasmus University Rotterdam, Stephanie has become a prominent authority in binary options trading, providing first hand market insights and actionable analysis, whilst developing highly profitable customized trading strategies for YesOption clients.

By: Stephanie Brown

Internet sensation Baidu Inc. (ADR) (NASDAQ:BIDU) is taking a keen interest in taxi-hailing app Uber. The Chinese giant has reportedly made over a $600 million investment in Uber, with full details set to be made public at an upcoming press conference on December 17th.

Its investment in Uber will help Baidu increase its market penetration in the local services’ industry in China, as the race for precious market share heats up. Baidu believes that this will increase its traffic and fend off potential competition from Alibaba.

Uber is the richest privately held company after receiving $40 billion worth of funding. Despite enjoying impressive operation metrics in the U.S., Uber is still facing regulatory scrutiny in Thailand and Spain where its services have already been halted.

Baidu has been boosting its online presence in the wake of Alibaba going public. Based in China, Baidu is seen as the Google Inc. (NASDAQ:GOOGL) of the country as it continues to poses tremendous market share thanks to its founder, Robin Li. This investment is expected to heavily expand Uber’s presence in China and is causing many to wonder if or when it will go public.

Technical Analysis

Baidu traded in a wide range during Friday’s session with over 2.6M volumes worth of shares exchanging hands. The stock is currently situated above its 20-Day EMA of $233.91, with an RSI of 44.49. Lastly, it is facing resistance near $235, $240 on the upside, while finding support at $225.5, $220.

Actionable Insight

Buy Baidu Inc. (ADR) (NASDAQ:BIDU) above $231 for target of $234, $238 with stop-loss of $229.8

BIDU 121514

Stephanie Brown
About Stephanie Brown
Since graduating from Erasmus University Rotterdam, Stephanie has become a prominent authority in binary options trading, providing first hand market insights and actionable analysis, whilst developing highly profitable customized trading strategies for YesOption clients.
 

Most Visited Forex Broker Reviews