Baidu: ⬆️ Buy
– Baidu reversed from support zone
– Likely to rise to resistance level 90.00.
Baidu recently reversed from the support zone between the major long-term support level 78.60 (which has been reversing the price from the end of 2022) and the lower weekly Bollinger Band.
The upward reversal from this support level 78.60 is likely to form the weekly Japanese candlesticks reversal pattern Hammer (strong buy signal for Baidu).
Given the strength of the support level 78.60 and the clear bullish divergence on the weekly Stochastic indicator, Baidu can be expected to rise to the next resistance level 90.00.
Source: Fxpro
