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Fan Yang

Baidu (BIDU) Should See Support Above $180

Baidu $BIDU recently broke below a range support around $208-$210. There is bearish momentum in the short to medium-term, but I think price will find support around or above $180.

BIDU Daily Chart

(click to enlarge)

$180 Support:
- I am anticipating support here because this would be the middle of the previous triangle consolidation pattern.
- That means $180 was a sticky price and therefore might invite buyers. 
- Also note that there is a rising trendline that would challenge the bearish attempt if BIDU falls to $180. 
- A break below $180 on the other hand would make me reassess the bullish outlook and consider the neutral to bearish outlook $160 and then $140 in sight. 

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