Baidu may fall to 85.10 - 89.00

Our pivot point is at 109.3.

Our preference

Under pressure below 109.3.

Alternative scenario

The upside breakout of 109.3 would call for 116.1 and 120.2.

Comment

The RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the share stands below its 20 and 50 day moving average (respectively at 108.277 and 104.6104).

Supports and resistances

120.2 **

116.1 *

109.3 **

106.7

101.43 (USD-last)

92.9

89 **

85.1 *

81.2 **

Number of asterisks represents the strength of support and resistance levels.