Baidu Wave Analysis – 24 March, 2019
March 24, 2020 @ 17:40 UTC
- Baidu reversed from support level 80.00
- Likely to rise to 100.00
Baidu continues to rise after the earlier upward reversal from the key long-term support level 80.00 (which started the sharp weekly uptrend at the start of 2013).
The upward reversal from the support level 80.00 started the active medium-term impulse sequence (1).
Given the clear bullish divergence on the weekly RSI indicator – Baidu is likely rise further toward the next resistance level 100.00 (former powerful support from the middle of 2015).