The Web, China, The Works – Beth Gaston Moon
Forbes Options Watch column reviews the performance of several Internet companies this weekend, including Baidu and Sina:
Baidu.com (nasdaq: BIDU – news – people ) is considered to be the “Google of China,” as it is in the nation’s leading Internet search provider. This week, the company announced plans to enter the world of e-commerce by building a consumer-to-consumer service. The stock has been in strong rally mode since the spring, gaining almost 250% since the beginning of April. In the past week, Baidu shares have hugged support at their 20-day moving average. The short-term trendline has acted as support since mid-August.
…Sina (nasdaq: SINA – news – people ) is another Chinese Internet firm, operating four Chinese-language Web portals and serving more than 200 million registered users. SINA shares have been in rally mode since mid-2006, more than doubling in value and overtaking potential double-top resistance near the 50 mark. The equity’s uptrend has ramped higher of late, with the shares zooming north along their 10- and 20-day moving averages to tack on about 45% since mid-August. [Full Text]