NetEase Stock Forecast
Green day on Friday for NetEase
(Updated on May 03, 2024)
The NetEase stock price gained 4.11% on the last trading day (Friday, 3rd May 2024), rising from $98.95 to $103.02. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.97% from a day low at $99.91 to a day high of $103.88. The price has risen in 8 of the last 10 days and is up by 10.17% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 767 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $279.20 million.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $100.49, a level that may pose a second chance to hit a runner. According to fan-theory $114.27 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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NTES Signals & Forecast
Mostly positive signals in the chart today. The NetEase stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $96.60 and $98.32. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 14.54%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for NetEase stock
NetEase finds support from accumulated volume at $100.62 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $3.97 between high and low, or 3.97%. For the last week, the stock has had daily average volatility of 2.67%.
Our recommended stop-loss: $99.33 (-3.58%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (NTES) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect NetEase to open at $102.27, and during the day (based on 14 day Average True Range), to move between $100.22 and $105.82, which gives a possible trading interval of +/-$2.80 (+/-2.72%) up or down from last closing price. If NetEase takes out the full calculated possible swing range there will be an estimated 5.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $103.58 (0.54%) than the support at $100.62 (2.33%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is NetEase stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.
Current score: 3.689 Buy Candidate Unchanged
Predicted Opening Price for NetEase of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $102.27 ( 0.728%) | $103.02 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NTES
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 106.24 | 3.13 % | |
| R2 | 104.72 | 1.65 % | ||
| R1 | 103.79 | 0.744 % | ||
| Current price: | 103.02 | |||
| Support | S1 | 100.75 | -2.20 % | |
| S2 | 99.82 | -3.11 % | ||
| S3 | 98.30 | -4.58 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 107.92 | 4.76 % | |
| R2 | 107.37 | 4.22 % | ||
| R1 | 103.58 | 0.544 % | ||
| Current price | 103.02 | |||
| Support | S1 | 100.62 | -2.33% | |
| S2 | 98.71 | -4.18% | ||
| S3 | 92.15 | -10.55% |
NTES Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 13, 2024 | Mar 13, 2024 | Mar 13, 2024 | $0 | 0% |
| 2 | Nov 17, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.495 | 0.481% |
| 3 | Aug 24, 2023 | Sep 07, 2023 | Sep 22, 2023 | $0.520 | 0.511% |
| 4 | May 19, 2023 | Jun 08, 2023 | Jun 23, 2023 | $0.465 | 0.500% |
| 5 | Feb 23, 2023 | Mar 08, 2023 | Mar 24, 2023 | $0.270 | 0.302% |
FAQ
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