NTES price action broke to the upside in the middle of 2016 and formed a very strong uptrend. In late 2016, prices retraced strongly to a 50% retracement. Prices are now attempting a move to previous highs, but the RSI is not confirming. I'm waiting for price action to reach the $270 level and determining if the RSI divergence continues to be strong.
Set an alert for $270 and roll.
Set an alert for $270 and roll.
Comment:
Continuing to watch, as NTES earnings occur this week. I will look for a setup on Monday and Tuesday for earnings on Wednesday 2/15.