NetEase may fall to 80.60 - 83.40

Our pivot point is at 97.4.

Our preference

The downside prevails as long as 97.4 is resistance.

Alternative scenario

The upside breakout of 97.4 would call for 102.2 and 105.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 92.787 and 93.0848).

Supports and resistances

105 **

102.2 *

97.4 **

95.6

92.07 (USD-last)

86.1

83.4 **

80.6 *

77.9 **

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