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After Yesterday's Rally of 1.78%, The9 Ltd Shares Could Pullback (NCTY)

Written on Thu, 07/29/2010 - 2:57am
By Chip Brian

The9 Ltd (NASDAQ:NCTY) traded in a range yesterday that spanned from a low of $4.80 to a high of $5.25. Yesterday, the shares gained 1.78%, which took the trading range above the 3-day high of $5.24 on volume of 96,000 shares.
Shares of The9 Ltd are currently trading above their 50-day moving average (MA) of $4.26 and should find resistance at their 200-day MA of $6.44. Look for these MAs to provide support for a short-term pullback in the shares.
SmarTrend is bullish on shares of The9 Ltd and our subscribers were alerted to Buy on July 23, 2010 at $4.69. The stock has risen 9.9% since the alert was issued.
SmarTrend has the shares in an Uptrend and expects the share price to pullback toward the $5.15 support level. Afterwards, we expect it to move upward with its peers in the SmarTrend Multimedia & Graphics Software industry.

Keywords: the9 ltd trading range stock news

Ticker(s): NCTY

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