NTES pushes through 50-day moving average


NetEase Inc. (NTES) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
NTES closes above its opening price after recovering from early selling pressure
NTES pushes through 50-day moving average
NTES closes lower for the 2nd day in a row
NTES closes within previous day's range after lackluster session
NTES ends the day indecisive
TQ Sentiment
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, NTES ended Thursday at 255.04 losing $0.17 (-0.07%). Trading up to $2.99 lower after the open, the share managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for NTES
Volatility

Thursday's trading range was $4.65 (1.83%), that's below last trading month's daily average range of $7.69. Things look different on a weekly scale, where volatility is way above the markets average with the monthly volatility being slightly below average.

Trend

Though the market is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory. NetEase Inc. managed to break above the 50-day moving average at 254.95 today for the first time since June 12th.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for NetEase Inc.
ConditionForecastDirectionWinAvgWorstBest
Bearish Break through SMA 50 TQ Pro Members Only
4 Consecutive Lower Closes TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
RSI(2) below 20 TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
More market conditions identified for TQ Pro members...
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