Baidu may fall to 81.60 - 85.00

Our pivot point stands at 102.2.

Our preference

The downside prevails as long as 102.2 is resistance.

Alternative scenario

Above 102.2, look for 108.2 and 111.7.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the share stands below its 20 and 50 day moving average (respectively at 102.8915 and 103.344).

Supports and resistances

111.7 **

108.2 *

102.2 **

99.7

95.89 (USD-last)

88.6

85 **

81.6 *

78 **

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