"Netease.com's chart action is open to some interpretation. It's clear the stock broke out of a first- stage cup base in February. One school argues the stock has been consolidating since April and has yet to present a workable, second-stage pattern."
(I can see that one. Left side of the cup near that 48.50 tag, Right side break out in Feb as written)
"Another view sees a flawed double-bottom base forming since August. A handle on that base has now grown to six weeks."
(Hummm: I would have thought inverted head and shoulders? Right shoulder being their six week handle on their "base" starting late Oct? WDIK?)
A third view reads the six-week handle as a potential base in its own right, now building its own handle with a possible buy point at 48.42.
(I can see that, and with the typical IBD pivot point of high plus .10, then +.10 on the high of the handle equates to their buy point : 48.32 + .10 = $48.42)
If at first you don’t succeed, remove all evidence you ever tried.
Recent NTES News
FEATURED Cannabix Technologies Launches New Compact Breath Logix Workplace Series and Prepares for Delivery to South Africa • May 7, 2024 8:51 AM
Moon Equity Holdings, Corp. Announces Acquisition of Wikolo, Inc. • MONI • May 7, 2024 9:48 AM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
