NetEase Inc (NTES): Price Down $-3.97 (-3.2)% Over Past Day, Down $-3.59 (-2.9)% Over Past Hour

The Hourly View for NTES

Currently, NTES’s price is down $-3.59 (-2.9%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, so that price is now turning below it. The moving averages on the hourly 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.

NTES’s Technical Outlook on the Daily Chart

At the time of this writing, NTES’s price is down $-3.97 (-3.2%) from the day prior. It’s been a feast for bears operating on the daily timeframe, as NTES has now gone down 5 of the past 5 days. Regarding the trend, note that the strongest trend exists on the 100 day timeframe. The moving averages on the daily 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. The chart below shows NTES’s price action over the past 90 days.

NTES

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