NetEase Inc (NTES): Price Now Near $87.46; Daily Chart Shows Downtrend on 20 Day Basis

The Hourly View for NTES

At the moment, NTES (Get Ratings)’s price is down $-0.92 (-1.04%) from the hour prior. This is the 2nd hour in a row NTES has seen its price head down. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them so that price is now turning below it. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Out of Business Services stocks, NTES ranks 203rd in regards to today’s price percentage change.

NTES’s Technical Outlook on the Daily Chart

At the moment, NTES’s price is down $-0.21 (-0.24%) from the day prior. NTES has seen its price go down 4 out of the past 5 days, thus creating some compelling opportunities for bears. As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe. Of note is that the 200 day changed directions on NTES; it is now pointing down. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. NetEase Inc’s price action over the past 90 days can be seen via the chart below.