The NetEase share price continued to rise last week. Although there was a slump of around 10% last Thursday, the share price recovered quickly. We primarily expect the magenta-colored wave (b) to continue moving upward. Ideally, we expect the high of this corrective rise to be just below the resistance at $134.44. From there, the price should then sell off...
Nice short setup with low risk in NetEase, it fits the idea of the China reopening uptrend being reversed. Decent downside if stop is not hit (see dashed red line)
Best of luck!
Cheers,
Ivan Labrie.
Somehow this china stonk always powers thru even when other chinese stonks are getting demolished, $NTES somehow remains steady and mostly bullish. Seeing a possible bull flag on it, no position, just an observation. it's also a decent company fundamentally.
"As an innovation-driven content creator, we will continue to deliver thoughtful premium content and products to our users across each of our carefully cultivated disciplines," said the CEO and director of NetEase, William Ding.
Third Quarter 2021 Financial Highlights
- Net revenues were CNY 22.20 billion (USD 3.4 billion), an increase of 18.9% compared with...
Based on historical movement, the peak could occur anywhere in the larger red box. The final targets are in the green boxes. The pending bottom should occur within the larger green box as has been the historical case. Half of all movement has ended in the smaller green box. In this instance, the signal indicated SELL on October 22, 2021 with a closing price of...
Monthly
Uptrend
Over last 5 years become more volatile
Since it is Game industry.
Weekly
Uptrend
I expect slowing activity and weak earning of Feb 2021 and buy from them.
Daily
Open LONG 87
SL 81
TP 120
RR 5
Dear traders,
I see a cup and handle pattern on the weekly chart.
RSI, MACD, and StochRSI show some bullish momentum.
If we break the resistance at $360-$370, we might see a potential run towards $530.
Good luck!
Disclaimer:
This is not financial advice!
Do your own research!
