Baidu may fall to 74.10 - 77.40

Our pivot point is at 93.8.

Our preference

The downside prevails as long as 93.8 is resistance.

Alternative scenario

The upside breakout of 93.8 would call for 99.5 and 102.9.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 91.351 and 94.7397).

Supports and resistances

102.9 **

99.5 *

93.8 **

91.6

88.98 (USD-last)

80.7

77.4 **

74.1 *

70.8 **

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