Baidu may rise to 103.10 - 106.60

Our pivot point stands at 86.2.

Our preference

Short term rebound towards 103.1.

Alternative scenario

The downside breakout of 86.2 would call for 80.5 and 77.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the stock is trading above its 20 day moving average (91.1835) but under its 50 day moving average (96.4367).

Supports and resistances

110 **

106.6 *

103.1 **

99.5

92.27 (USD-last)

88.5

86.2 **

80.5 *

77 **

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