Baidu, Inc. (NASDAQ: BIDU) Potential continuation of the current bearish momentum to retest US$122.00 at support zone 1 and subsequently US$107.00 at support zone 2:  

1. The price is trading in a downtrend channel currently following a breakdown of the recent uptrend channel, which provides a bearish reversal signal.
2. The price could continue its bearish momentum to retest US$122.00 in the first support zone at US$121-127, which was a prior resistance during the consolidation period from December 2022 to January 2023.
3. It could then head to the US$107.00 level thereafter in the second support zone of US$102-110, which was the range support from December 2022 to January 2023 and confluent with a 61.8% Fibonacci retracement level using a swing high of US$160.88 and swing low of US$73.58.

*Expected timeline of the trade is 13 weeks from the date of report issuance.

CHART LEGEND

Red box = Resistance zone

Green box = Support zone