Baidu may fall to 70.00 - 73.20

Our pivot point stands at 89.5.

Our preference

The downside prevails as long as 89.5 is resistance.

Alternative scenario

The upside breakout of 89.5 would call for 95.1 and 98.5.

Comment

The RSI is below 50. 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 91.3575 and 92.5555).

Supports and resistances

98.5 **

95.1 *

89.5 **

87.4

84.49 (USD-last)

76.4

73.2 **

70 *

66.8 **

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