NetEase may fall to 78.60 - 81.80

Our pivot point stands at 98.5.

Our preference

As long as 98.5 is resistance look for 81.8.

Alternative scenario

Above 98.5, look for 104 and 107.2.

Comment

The RSI is below 50. The MACD is positive and above its signal line. The break above the 50 area on the RSI would call for further upside. Moreover, the share stands below its 20 and 50 day moving average (respectively at 93.3795 and 95.102).

Supports and resistances

107.2 **

104 *

98.5 **

96.3

91.96 (USD-last)

85

81.8 **

78.6 *

75.5 **

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