NTES trade ideas
WatchingI see NTES already reached above 405(resistance for a long time). However, I am not yet ready to long/short this equity. Let's wait and see what's about to happen. I would purchase a little number of puts at the beginning if it maintains above 405. If this straight push up all the way above 405, I would wait for this to retrace back to 405, and then collect some calls.
$NTES Chinese Gaming stock on verge of huge Breakout
NTES looks poised for a substantial move higher.
Already at a all time high but has the potential for a much greater move post earnings Tuesday
p/e ratio 16.28
NetEase (NASDAQ:NTES) is scheduled to announce Q1 earnings results on Tuesday, May 19th, after market close.
The consensus EPS Estimate is $3.98 (+14.4% Y/Y) and the consensus Revenue Estimate is $2.2B (-19.4% Y/Y).
Over the last 2 years, NTES has beaten EPS estimates 88% of the time and has beaten revenue estimates 50% of the time.
Over the last 3 months, EPS estimates have seen 3 upward revisi
ons and 1 downward. Revenue estimates have seen 1 upward revision and 2 downward. Source Seekignalpha
Netease $NTES Cup&Handle --> $530 potential targetDear traders,
I see a cup and handle pattern on the weekly chart.
RSI, MACD, and StochRSI show some bullish momentum.
If we break the resistance at $360-$370, we might see a potential run towards $530.
Good luck!
Disclaimer:
This is not financial advice!
Do your own research!
Netease next trade setup $ntesPrevious trade target hit perfectly.
Next entry level after some consolidation @ $328 with @376 as our upside target.
Having broke through the Fibonacci golden pocket resistance we would expect a possible test of that level in the days to come as the market looks like a considerable pullback is imminent.
All time highs alert for Netease $NTESIt has been a great 2019 for NTES and we have watched the recovery from the lows and hopefully some have got some nice profits to show.
The stock is now only 16% from its all time highs so maybe time to consider taking some $$$ of the table if long.
Indicators do remain bullish and have room to run higher before reaching overbought territory.
Sentiment in the Chinese economy is also very high entering into 2020 as more stimulus has been added, lets see will consumers start spending.