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Netease.com Looks to Continue to Trade Above its Annual-High Share Price Today

By Amy Schwartz

Shares of Netease.com (NASDAQ:NTES) traded today at $203.74, breaking its 52-week high. This new high was reached on below average trading volume as 193,000 shares traded hands, while the average 30-day volume is approximately 1 million shares.

NetEase.com Inc. provides an Internet community for Chinese users. The Company's Web site offers email, online auctions, online chat rooms, personalized Web sites, instant messaging, Web hosting, and e-commerce services.

Based on a current price of $202.85, Netease.com is currently 12.9% above its average consensus analyst price target of $176.69. The stock should discover initial support at its 200-day moving average (MA) of $144.13 and subsequent support at its 50-day MA of $140.68.

In the past 52 weeks, Netease.com share prices have been bracketed by a low of $102.80 and a high of $203.74 and are now at $202.85, 97% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 1%.

SmarTrend recommended that subscribers consider buying shares of Netease.com on June 29th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $178.17. Since that recommendation, shares of Netease.com have risen 12.9%. We continue to monitor NTES for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows netease.com

Ticker(s): NTES