Baidu retests important resistance - Analysis - 05-04-2021

Baidu's stock rose 0.99% in the last session amid positive signals from the RSI, while retesting the resistance of 229.90, amid the dominance of the downward short-term correctional wave, with negative pressure from the 50-day SMA.

Therefore we expect the stock to return lower, targeting the support of 185.23 anew, provided the resistance of 229.90 holds on.

Expected trend for today: Bearish