Netease.com Trading Higher on 1.2x Above-Average Volume (NTES)

   Date:2011/10/09

 

Shares of Netease.com are trading today in above average volume, with the share price rising 0.5% to $41.51. Today's volume of 1.2 million shares tops the average 30-day volume of 992,000 shares. Unusually high volume can signify a potential turning point or validate a breakout.

NetEase.com Inc. provides an Internet community for Chinese users. The Company's Web site offers email, online auctions, online chat rooms, personalized Web sites, instant messaging, Web hosting, and e-commerce services.

Potential upside of 36.1% exists for Netease.com, based on a current level of $41.51 and analysts' average consensus price target of $56.50. The stock should run into initial resistance at its 200-day moving average (MA) of $45.05 and subsequent resistance at its 50-day MA of $45.27.

In the past 52 weeks, shares of Netease.com have traded between a low of $35.20 and a high of $55.00 and are now at $41.51, which is 18% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 2%.

Source:fnno

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