Baidu heads firmly south - Analysis - 16-08-2019

Baidu's stock kept falling in the short term, amid the dominance of the main downward trend in the medium term, with negative pressure from the 50-day SMA, while venting off oversold saturation in the RSI after reaching oversold levels. 

Therefore we expect more losses for the stock, targeting the support of 83.07, as long as the pivotal resistance of 106.60 holds on. 

Expected trend for today: Bearish