Baidu $BIDU

(Click chart to enlarge)

(Click chart to enlarge)

Baidu has pulled back to the original breakout from 9/20/2010, after testing it once in December 2012.  After forming a head and shoulders, left shoulder April 2011 and right shoulder April 2012, a series of lower highs have been put in.  I would expect this support level to break, since BIDU hasn’t participated in this market rally. If the overall market should happen to take a breather, 85 should be breached and I believe BIDU will head lower with a price target of 75 for starters.

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