Netease, Inc. Stock Forecast
Red day on Friday for Netease, Inc.
(Updated on Jun 28, 2024)
The Netease, Inc. stock price fell by -0.798% on the last day (Friday, 28th Jun 2024) from HK$150.30 to HK$149.10. During the last trading day the stock fluctuated 1.69% from a day low at HK$148.20 to a day high of HK$150.70. The price has been going up and down for this period, and there has been a 3.47% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -950 thousand shares and in total, 5 million shares were bought and sold for approximately HK$777.17 million.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.95% during the next 3 months and, with a 90% probability hold a price between HK$148.70 and HK$158.68 at the end of this 3-month period.
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9999.HK Signals & Forecast
The Netease, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at HK$145.21 and HK$143.40. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, June 26, 2024, and so far it has fallen -1.00%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Netease, Inc. stock
Netease, Inc. finds support from accumulated volume at HK$142.10 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved HK$2.50 (1.69%) between high and low. For the last week, the stock has had daily average volatility of 2.35%.
Our recommended stop-loss: HK$142.81 (-4.22%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (9999.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Netease, Inc. to open at HK$149.33, and during the day (based on 14 day Average True Range), to move between HK$144.96 and HK$153.24, which gives a possible trading interval of +/-HK$4.14 (+/-2.77%) up or down from last closing price. If Netease, Inc. takes out the full calculated possible swing range there will be an estimated 5.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at HK$150.30 (0.80%) than the support at HK$142.10 (4.69%), 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, Inc. stock A Buy?
Netease, Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.323 Hold/Accumulate Unchanged
Predicted Opening Price for Netease, Inc. of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| HK$149.33 ( 0.156%) | HK$149.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 9999.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 151.83 | 1.83% |
| R2 | 150.88 | 1.19% |
| R1 | 150.29 | 0.797% |
| Price | 149.10 | |
| S1 | 148.38 | -0.484% |
| S2 | 147.79 | -0.88% |
| S3 | 146.83 | -1.52% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 150.60 | 1.01% |
| R1 | 150.30 | 0.80% |
| Price | 149.10 | |
| S1 | 142.10 | -4.69% |
| S2 | 139.30 | -6.57% |
| S3 | 137.60 | -7.71% |
9999 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 05, 2024 | Jun 05, 2024 | Jun 17, 2024 | HK$0.773 | 0.532% |
| 2 | Mar 13, 2024 | Mar 13, 2024 | Mar 25, 2024 | HK$0.235 | 0.143% |
| 3 | Nov 30, 2023 | Nov 30, 2023 | Dec 12, 2023 | HK$0.109 | 0.0656% |
| 4 | Sep 07, 2023 | Sep 07, 2023 | Sep 19, 2023 | HK$0.113 | 0.0704% |
| 5 | Jun 08, 2023 | Jun 08, 2023 | Jun 21, 2023 | HK$0.102 | 0.0689% |
FAQ
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