Market Snapshots

Baidu Wave Analysis – 25 September, 2019

Baidu Wave Analysis – 25 September, 2019
  • Baidu broke support level 100.00
  • Likely to fall to 93.40

Baidu recently broke below the round support level 100.00 (which stopped the earlier short-term impulse wave (i) at the start of September).

The breakout of the support level 100.00 should accelerate the active short-term impulse waves (iii) and 3 – both of which belong to the larger impulse wave (3) from June.

Baidu is expected to fall further and retest the next support level 93.40 (monthly low from August and the target price for the termination of the active impulse wave (iii)).

Article Rating