Baidu Inc (ADR) (NASDAQ:BIDU) And NVIDIA Leads AI Tech

Baidu Inc (ADR) (NASDAQ:BIDU) And NVIDIA Leads AI Tech

Baidu Inc (ADR) (NASDAQ:BIDU) And NVIDIA Leads AI Tech

Baidu and NVIDIA have long had a close relationship, and this announcement is significant in its breadth, spanning nearly every aspect of the internet giant’s business. Unlike Google, its American counterpart, Baidu appears to be content to use NVIDIA’s commercial technology, instead of designing its own chips for AI acceleration.

Baidu will focus on its software and its internal use cases for AI; it already has some of the world’s most advanced AI for natural language recognition and translation, necessitated by the need to understand and translate spoken search queries in its market’s plethora of dialects.

China-based search engine Baidu has been shifting its business focus from Internet services to AI (artificial intelligence) application, company president and COO Lu Qi has said at the company’s first AI developer conference Baidu Create recently held in Beijing.

Baidu and Nvidia announced a far-reaching agreement to work together on artificial intelligence, spanning applications in cloud computing, autonomous driving, education and research, and domestic uses via consumer devices. It may be the most comprehensive partnership yet for Nvidia in its bourgeoning artificial intelligence business, and it’s likely to provide a big boost for Nvidia’s GPU business for years to come.

Baidu, Inc. is a Chinese language Internet search provider. The Company offers a Chinese language search platform on its Baidu.com Website that enables users to find information online, including Webpages, news, images, documents and multimedia files, through links provided on its Website. In addition to serving individual Internet search users, the Company provides a platform for businesses to reach customers. Its business consists of three segments: search services, transaction services and iQiyi. Search services are keyword-based marketing services targeted at and triggered by Internet users’ search queries, which mainly include its pay-for-performance (P4P) services and other online marketing services. Its transaction services include Baidu Nuomi, Baidu Takeout Delivery, Baidu Maps, Baidu Connect, Baidu Wallet and others. iQiyi is an online video platform with a content library that includes licensed movies, television series, cartoons, variety shows and other programs.

Overall, the bias in prices is: Upwards.

Short term: Prices are moving.

Intermediate term: Prices are ranging.

The projected upper bound is: 191.51.

The projected lower bound is: 177.47.

The projected closing price is: 184.49.

BAIDU INC ADS closed up 1.480 at 184.410. Volume was 37% below average (neutral) and Bollinger Bands were 33% narrower than normal.

Open           High            Low             Close           Volume
183.200      184.560      181.830      184.410      1,541,305

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish

Moving Averages: 10-period      50-period        200-period
Close:                       180.64           182.84             176.33
Volatility:                21                    24                    25
Volume:                   2,361,215      2,557,900      2,275,475

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

BAIDU INC ADS is currently 4.6% above its 200-period moving average and is in an downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of BIDU.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on BIDU.O and have had this outlook for the last 22 periods.

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 45.5418. This is not an overbought or oversold reading. The last signal was a buy 15 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 57.16. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 37 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 115.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 2 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 8 period(s) ago.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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