Baidu returns lower - Analysis - 09-12-2021

Economies.com
2021-12-09 12:10PM UTC

Baidu's stock returned lower with a 0.64% loss in the last session amid the dominance of the downward trend in the medium and short terms, while hurt by exiting an ascending correctional price channel recently, with pressure from the 50-day SMA, as the RSI reached overbought levels. 

 

Therefore we expect more losses for the stock, targeting the pivotal support of 132.20, provided the resistance of 152.00 holds on.

 

Expected trend for today: Bearish

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