Baidu gives in to negative pressure - Analysis - 11-03-2021

Baidu's stock (BIDU) fell in the intraday levels after attempts to recoup losses, while venting off oversold saturation in the RSI until hitting the resistance of the 50-day SMA and bouncing back down, amid the dominance of the downward short-term correctional trend. 

Therefore we expect more losses for the stock, targeting the support of 230.00 anew, provided the resistance of 265.00 holds on.

Expected trend for today: Bearish