NetEase may rise to 103.60 - 108.10

Our pivot point is at 81.7.

Our preference

Rise towards 103.6.

Alternative scenario

The downside breakout of 81.7 would call for 74.5 and 70.1.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and positive. The break above the 50 area on the RSI should trigger further gains. Moreover, the stock is above its 20 and 50 day moving average (respectively at 88.1845 and 86.375).

Supports and resistances

112.6 **

108.1 *

103.6 **

99.2

89.08 (USD-last)

84.5

81.7 **

74.5 *

70.1 **

Number of asterisks represents the strength of support and resistance levels.