Baidu may fall to 82.70 - 85.00

Our pivot point stands at 96.7.

Our preference

The downside prevails as long as 96.7 is resistance.

Alternative scenario

The upside breakout of 96.7 would call for 100.6 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 98.7203 and 101.9589).

Supports and resistances

102.9 **

100.6 *

96.7 **

95.1

91.99 (USD-last)

87.3

85 **

82.7 *

80.5 **

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