Baidu $BIDU is in a bearish trend and looks like it will be continuing lower after it broke below a support pivot around $166 and then reacted to it as resistance.BIDU Daily Chart(click to enlarge)Bears in Charge:- As we can see price is below the 200-, 100-, and 50-day simple moving averages (SMAs). The RSI has also been holding under 60 and tagging below 30.- Meanwhile, price continues to make lower highs and lower lows. - The last confirmation of bearish control was resistance around $166, a previous support.Next Support:- I think the next key support is around $140. This is a previous support/resistance pivot area. - Note that this is the 2016-low . - If the weekly RSI and price also develops a bullish divergence here, we should anticipate a rebound towards $180. - A less likely, but still possible scenario is a dip towards the $100 low, or 2015-low.- I will be waiting for $140 for the most part, but also prepare some dry powder for $100. BIDU Weekly Chart(click to enlarge)