Baidu may fall to 83.70 - 87.30

Our pivot point stands at 103.9.

Our preference

The downside prevails as long as 103.9 is resistance.

Alternative scenario

Above 103.9, look for 109.9 and 113.5.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 107.698 and 104.3152).

Supports and resistances

113.5 **

109.9 *

103.9 **

101.5

98.47 (USD-last)

90.8

87.3 **

83.7 *

80.1 **

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