Baidu may rise to 100.80 - 104.70

Our pivot point stands at 81.6.

Our preference

Short term rebound.

Alternative scenario

The downside breakout of 81.6 would call for 75.3 and 71.5.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the stock is trading above its 20 day moving average (86.8248) but under its 50 day moving average (89.8202).

Supports and resistances

108.6 **

104.7 *

100.8 **

96.9

88.965 (USD-last)

84.1

81.6 **

75.3 *

71.5 **

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