Baidu may rise to 124.20 - 129.70

Our pivot point is at 97.8.

Our preference

The upside prevails as long as 97.8 is support.

Alternative scenario

The downside breakout of 97.8 would call for 88.9 and 83.5.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 96.7385 and 89.7425).

Supports and resistances

135.1 **

129.7 *

124.2 **

118.7

106.01 (USD-last)

101.3

97.8 **

88.9 *

83.5 **

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