Baidu started 2017 with a strong bullish run that broke a late 2016 consolidation. The daily chart, shows price push above a sideways market.BIDU Daily Chart 1/25(click to enlarge)Breakout and Consolidation:- As we can see on the daily chart, price broke above a few things: 1) a consolidation range 2) a falling resistance 3) the 200-, 100-, and 50-day simple moving averages (SMAs)- Then, price started to retreat in what we can see as a choppy channel at the moment.- This week, we are seeing sellers at this channel resistance. If we do indeed get another wave down, we might have a case for buying-on-a-dip.Anticipating Support:- As price retreated before tagging 184, we can see price returning towards the cluster of SMAs.- If we believe that the early 2017 rally is indeed a breakout that indicates a bullish reversal at least in the first quarter of 2017, then we should anticipate support in the cluster of SMAs. By this expectation, we should look for support down to the 170 level.- Also, if the RSI falls back near 40, we should also anticipate support. If the RSI indeed holds above 40 and pushes back up, it would reflect maintenance of the early-2017 bullish momentum.- Let's think about trade around 170. A stop should be below 165 (below the middle of the broken consolidation range).- Targets can be at least 180 and up to 200 (2016 high).- The reward to risk profile is decent.