Stocks

NetEase may rise to 101.50 - 104.80

2024-06-22

Our pivot point is at 86.1.

Our preference

Short term rebound towards 101.5.

Alternative scenario

The downside breakout of 86.1 would call for 80.6 and 77.4.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the share stands below its 20 and 50 day moving average (respectively at 92.1065 and 94.9953).

Supports and resistances

108.1 **

104.8 *

101.5 **

98.2

91.53 (USD-last)

88.2

86.1 **

80.6 *

77.4 **

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

This is not investment advice. Past performance does not represent future performance. Your funds are at risk, please trade with caution and responsibility.


Author:

Paul Reid
Tradingtop

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