NTES rallies, gaining $9.48 (4.48%) within a single day

NetEase Inc. (NTES) Technical Analysis Report for Oct 12, 2018 | by Techniquant Editorial Team


NTES soars, gaining $9.48 (4.48%) within a single day
NTES pushes through 50-day moving average
NTES rises to highest close since October 3rd
NTES closes higher for the 2nd day in a row


Moving higher for the 2nd day in a row, NTES finished the week 2.49% higher at 220.88 after surging $9.48 (4.48%) today, notably outperforming the Nasdaq 100 (2.77%). This is the biggest single-day gain in over four weeks. Today's close at 220.88 marks the highest recorded closing price since October 3rd.

Daily Candlestick Chart (NTES as at Oct 12, 2018):

Daily technical analysis candlestick chart for NetEase Inc. (NTES) as at Oct 12, 2018

Friday's trading range has been $5.27 (2.41%), that's below the last trading month's daily average range of $6.93. Weekly volatility is also lower, being slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for NTES.

One bullish candlestick pattern matches today's price action, the White Candle.

The stock managed to break above the 50-day moving average at 212.86 today. When this moving average was taken out the last time on Monday, NTES gained 0.13% on the following trading day.

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Among the nine market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "Bullish Break through SMA 20" stand out. Its common bullish interpretation has been confirmed for NetEase Inc.. Out of 134 times, NTES closed higher 53.73% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 67.16% with an average market move of 2.17%.

Market Conditions for NTES as at Oct 12, 2018

Loading Market Conditions for NTES (NetEase Inc.)...
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