NetEase - 2Q results were weak . Revenue at Rmb13.4 B was in line but online gaming revenue was down 12%, ecommerce was a drag on margin , Ebit margin was the lowest ever reported. On the chart the uptrendline has been broken, its 50 days MA has been violated and the RSI has been on a divergence to its uptrend . In the short term it could be heading to its next support at US 260. If US 260 is breached the next support is at US 240 and US 211 respectively.
All posts and charts are for educational and illustration purposes only
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