As this happened, Barclays initiated its NetEase Inc ADR [NTES] rating to an Equal weight in a research note published on June 13, 2024; the price target was $104. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who decreased its forecast for the stock in late May from “an Overweight” to “an Equal-weight”. Morgan Stanley also remained covering NTES and reiterated its “an Overweight” recommendation on April 12, 2024.
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Price Performance Review of NTES
On Tuesday, NetEase Inc ADR [NASDAQ:NTES] saw its stock fall -3.48% to $82.05. Over the last five days, the stock has lost -13.11%. NetEase Inc ADR shares have fallen nearly -11.93% since the year began. Nevertheless, the stocks have fallen -22.23% over the past one year. While a 52-week high of $118.89 was reached on 02/27/24, a 52-week low of $75.85 was recorded on 09/10/24. SMA at 50 days reached $86.02, while 200 days put it at $94.70.
Levels Of Support And Resistance For NTES Stock
The 24-hour chart illustrates a support level at 81.02, which if violated will result in even more drops to 80.00. On the upside, there is a resistance level at 83.82. A further resistance level may holdings at 85.59. The Relative Strength Index (RSI) on the 14-day chart is 39.64, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -8.40, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 98.74%. Stochastics %K at 7.36% indicates the stock is a buying.
How much short interest is there in NetEase Inc ADR?
A steep rise in short interest was recorded in NetEase Inc ADR stocks on 2024-09-30, dropping by -0.23 million shares to a total of 3.82 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 4.05 million shares. There was a decline of -6.0%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on June 05, 2023 when Bernstein began covering the stock and recommended ‘”an Outperform”‘ rating .
