Possible Bearish Inside Day Candle Pattern Detected for Netease.com (NASDAQ:NTES)
SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Netease.com (NASDAQ:NTES) based on the price action in the company's shares. Today's price range of $138.26 and $140.19 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Netease.com may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.
Potential upside of 27.2% exists for Netease.com, based on a current level of $138.86 and analysts' average consensus price target of $176.69. Netease.com shares should first meet resistance at the 50-day moving average (MA) of $142.17 and find additional resistance at the 200-day MA of $144.36.
In the past 52 weeks, shares of Netease.com have traded between a low of $102.80 and a high of $186.45 and are now at $138.86, which is 35% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.8% while the 200-day MA has remained constant.
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.
SmarTrend is tracking the current trend status for Netease.com and will alert subscribers who have NTES in their portfolio or watchlist when shares have changed trend direction.
Keywords: bearish inside day candle netease.com