NetEase.com (NTES) is engaged in the development of applications, services and other technologies for the Internet in China. This stock is trading up 2.6% at $56.43 in recent trading.
Today's Volume: 988,000Average Volume: 812,077 Volume % Change: 70% >>3 Tech Stocks Hedge Funds Are Buying From a technical perspective, NTES is bouncing strong here with above-average volume right above its 50-day moving average of $52.12. This move is quickly pushing NTES within range of triggering a near-term breakout trade. That trade will hit once NTES manages to clear some near-term overhead resistance at $58.20 with high volume. Traders should now look for long-biased trades in NTES as long as it's trending above today's low of $54.44, and then once it sustains a move or close above $58.20 with volume that's near or above 812,077 shares. If that breakout triggers soon, then NTES will have a great chance of re-testing or possibly taking out its next major overhead resistance levels at $61.90 to $64.08.
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