NetEase may rise to 121.30 - 127.00

Our pivot point stands at 93.9.

Our preference

The upside prevails as long as 93.9 is support.

Alternative scenario

Below 93.9, expect 84.6 and 79.

Comment

The RSI is above 70. It could mean either that the stock is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is above its 20 and 50 day moving average (respectively at 84.4015 and 86.0846).

Supports and resistances

132.7 **

127 *

121.3 **

115.5

101.46 (USD-last)

97.7

93.9 **

84.6 *

79 **

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