NTES opportunity on dip ?
Diupdate
Netease is play on online gaming, ecommerce and online transacting in China. Has been a great performer over the past 10 years, never quite rising to the heights of the likes of Tencent, but definitely being a strong contender. I first invested in this stock when it was trading at what would now be equivalent to 0.60c and have traded the ups and downs with reasonable success. Has recently dipped sharply on what appears mostly concerns of US delisting etc. Should still be supported by strong online gaming trend, helped along by covid-19. If one takes the view that new administration will focus on restoring international relations, soothe capital markets etc. this could offer a great buying opportunity.
Trend is down still, but stochastic shows counter to be oversold. Buying levels around support of 107.60 or ( if it breaks given the trend is still strongly down) at 103.28 which would typically be stronger support.
I currently hold no position in NTES
Trend is down still, but stochastic shows counter to be oversold. Buying levels around support of 107.60 or ( if it breaks given the trend is still strongly down) at 103.28 which would typically be stronger support.
I currently hold no position in NTES
Trading ditutup: target tercapai
Good winning trade. More potential upside with 140 being lt target. Short term however it appears to have run out of steam with pullback likely down to 115. Can remain long on longer-term view ,or trim now ahed of anticipated pullback and reinitiate at lower level.
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