iQIYI may fall to 2.45 - 2.59

Our pivot point stands at 3.4.

Our preference

The downside prevails as long as 3.4 is resistance.

Alternative scenario

Above 3.4, look for 3.65 and 3.8.

Comment

The RSI is trading below 30. This could mean that either the stock is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the share stands below its 20 and 50 day moving average (respectively at 3.641 and 4.1405).

Supports and resistances

3.8 **

3.65 *

3.4 **

3.3

3.11 (USD-last)

2.73

2.59 **

2.45 *

2.31 **

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