Sunday, May 06, 2012

NetEase ($NTES) Ready to Break?

While events in Europe will cloud trading action this week, NetEase is nicely positioned to break resistance.  There are a couple of support levels to use for stop placement; these include $59, 20-day MA, rising support for April swing lows, then 50-day MA.  Earnings are May 16th which will an offer an event trigger assuming it doesn't break before.  My fundamental take is available on the Motley Fool.