Baidu Wave Analysis 10 December, 2020

• Baidu broke key resistance level 150.00

• Likely to rise to 160.00

Baidu continues to rise inside the sharp impulse waves 3 and (3) which previously broke above the key resistance level 150.00 (which reversed the price with the daily Shooting Star in November). 

The breakout of the resistance level 150.00 continues the prevailing uptrend that can be seen on the daily Baidu chart.

Baidu is likely to rise further toward the next resistance level 160.00 (target price for the completion of the active impulse wave (3)).