Baidu may rise to 105.30 - 108.80

87.3 is our pivot point.

Our preference

Short term rebound.

Alternative scenario

The downside breakout of 87.3 would call for 81.5 and 78.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the stock is trading above its 20 day moving average (90.936) but under its 50 day moving average (98.0815).

Supports and resistances

112.3 **

108.8 *

105.3 **

101.7

93.73 (USD-last)

89.5

87.3 **

81.5 *

78 **

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