NetEase may rise to 98.70 - 101.20

Our pivot point stands at 86.7.

Our preference

Short term rebound towards 98.7.

Alternative scenario

The downside breakout of 86.7 would call for 82.7 and 80.2.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 90.511 and 92.01).

Supports and resistances

103.6 **

101.2 *

98.7 **

96.3

90.22 (USD-last)

88.2

86.7 **

82.7 *

80.2 **

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