NetEase may fall to 75.90 - 78.40

Our pivot point stands at 90.9.

Our preference

The downside prevails as long as 90.9 is resistance.

Alternative scenario

The upside breakout of 90.9 would call for 95.2 and 97.8.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 91.914 and 92.264). Finally, NetEase has penetrated its lower daily Bollinger band (87.74).

Supports and resistances

97.8 **

95.2 *

90.9 **

89.2

86.67 (USD-last)

80.9

78.4 **

75.9 *

73.3 **

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