NASDAQ Stock Report on Google and Baidu (GOOG, BIDU)

Google (NASDAQ: GOOG), which last week announced it would stop automatically routing users to its uncensored Hong Kong based search engine citing problems relating renewal of internet content provider, has had its license renewed. This gives Google the license to operate in the world’s biggest internet market and also shows the tensions between China and US easing.

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Google shares are currently up 3.87% to $474.25 in the pre-market trading. The company’s shares have a 52-week price range of $405.80 - $629.51. They have a 50-day moving average of $488.22 and 200-day moving average of $541.25. Google’s shares have support and resistance levels at $444.03 and $462.19, respectively.

Baidu (ADR) (NASDAQ: BIDU), is a Chinese language internet search provider. The company conducts its operations in China principally through Baidu’ Online Network Technology (Beijing) Co., Ltd. Baidu had expected to gain from the recent tension between Google and the Chinese government. However, with the Chinese government allowing Google to continue in the world’s largest internet market, Baidu’s hopes have been shattered. Investors reacted negatively this news which resulted in Baidu’s ADR’s losing value in the pre-market trading.

Baidu’s ADRs are currently down 4.94% to $68.85 in the pre-market trading. The company’s ADRs have a 52-week price range of $27.06 - $82.29. They have a 50-day moving average of $71.54 and 200-day moving average of $53.20. Baidu ADRs have support at $68.45 and resistance at $73.75.

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