Baidu may fall to 73.50 - 78.60

104.5 is our pivot point.

Our preference

Target 78.6.

Alternative scenario

Above 104.5, look for 113.4 and 118.6.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the stock is trading under its 20 day moving average (100.9315) but above its 50 day moving average (91.2303).

Supports and resistances

118.6 **

113.4 *

104.5 **

101

93.97 (USD-last)

83.7

78.6 **

73.5 *

68.3 **

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