Baidu may rise to 125.20 - 129.40

Our pivot point is at 103.4.

Our preference

The upside prevails as long as 103.4 is support.

Alternative scenario

The downside breakout of 103.4 would call for 96.5 and 92.3.

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 107.1125 and 104.5078).

Supports and resistances

133.7 **

129.4 *

125.2 **

120.9

110.58 (USD-last)

106.2

103.4 **

96.5 *

92.3 **

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