Baidu: ⬆️ Buy

– Baidu reversed from the support area

– Likely to rise to resistance level 93.20

Baidu recently reversed from the support area between the support level 84.40 (which is the lower border of the sideways price range inside which the price has been trading from April) and the lower daily Bollinger Band.

The upward reversal from the support level 84.40 stopped the earlier impulse waves iii and 3.

Baidu can be expected to rise to the next resistance level 93.20, which is the upper border of the active sideways price range.