After Yesterday's Rally of 3.93% Shares Could Potentially Pullback
Netease.com (NASDAQ:NTES) traded in a range yesterday that spanned from a low of $208.52 to a high of $218.77. Yesterday, the shares gained 3.9%, which took the trading range above the 3-day high of $214.98 on volume of 737,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
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 17.0%. We continue to monitor NTES for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Over the past year, Netease.com has traded in a range of $102.80 to $218.77 and is now at $217.00, 111% above that low. The 200-day and 50-day moving averages have moved 0.16% lower and 1.04% lower over the past week, respectively.
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