Baidu $BIDU has been consolidating after the late 2017 rally. The daily chart shows a range roughly between $207.40 and $274.50, although price has peeped above to almost $285 briefly in May. BIDU Daily Chart(click to enlarge)Support:- As we can see on the daily chart, price has reached the range support area.- I think there will be some buying here, down to the $200 area as the RSI dips into the oversold area.- When we look at the weekly chart, price is regressing back to the 200-week simple moving average.- Also note that the prevailing trend has been bullish.- We can anticipate support around the 200-week SMA, which is around $200. - the thing is, the prevailing bullish trend has flattened, so we have to consider the possibility that the subsequent rally will be weak and find resistance in the $235-$240 area. - Note that previous consolidation periods were long, 2+ years before another bull swing. - Looking at this cyclical pattern, we shouhld anticipate at least another year of consolidation. Again, this is more reason to anticipate resistance aroudn $235-$240 instead of being confident that price will reach back to $274. BIDU Weekly Chart(click to enlarge)