Baidu may fall to 70.70 - 75.80

Our pivot point is at 100.3.

Our preference

Under pressure below 100.3.

Alternative scenario

The upside breakout of 100.3 would call for 109 and 114.3.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 102.291 and 91.9651).

Supports and resistances

114.3 **

109 *

100.3 **

96.8

91.62 (USD-last)

80.9

75.8 **

70.7 *

65.6 **

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