NetEase (NTES) : Traders are bullish on NetEase (NTES) as it has outperformed the S&P 500 by a wide margin of 6.59% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.91%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.88% in the last 1 week, and is up 7% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
NetEase, Inc. is up 26.29% in the last 3-month period. Year-to-Date the stock performance stands at 16.78%. The stock has recorded a 20-day Moving Average of 3.03% and the 50-Day Moving Average is 10.54%.
NetEase (NASDAQ:NTES): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $206.40 and $204.20 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $210.73. The buying momentum continued till the end and the stock did not give up its gains. It closed at $209.74, notching a gain of 1.02% for the day. The total traded volume was 1,332,822 . The stock had closed at $207.62 on the previous day.
Also, Equity Analysts at the Brokerage Firm, Credit Suisse, assumes their rating on the shares of NetEase (NASDAQ:NTES). Credit Suisse has a Neutral rating on the shares. As per the latest report, the brokerage house announces the price target to $230 per share. The rating by the firm was issued on August 19, 2016.
NetEase, Inc. (NetEase) is a holding company. The Company, through its subsidiaries and contracts with its affiliates Guangzhou NetEase Computer System Co., Ltd., Beijing Guangyitong Advertising Co., Ltd., Shanghai EaseNet Network Technology Co., Ltd., and certain other affiliated companies, operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet portal, e-mail, e-commerce and other businesses. The Company operates in three segments: Online Game Services, Advertising Services, and E-mail, E-commerce and Others. The Company conducts its business mainly in China.