NetEase (NTES) : Wednesdays money flow points at investors jumping to buy the stock on the weakness of price. $40.88 million worth of transactions were on upticks, whereas, the downticks accounted for $37.52 million worth of transactions. The net money flow was a positive $3.36 million and the uptick to downtick ratio was 1.09. The net money flow into the stock was $0.1 million. The lack of interest in trading on downticks shows that the investors dont want to sell their holdings. The upticks accounted for $0.1 million of the total block trades, indicating continued buying interest on weakness, which bodes well for the future of the stock. NetEase (NTES) was trading at $198.3, down $0.48 during day. The stock slid -0.24% over the previous days close. For the week, the stock recorded 1.58% over the previous weeks close.
Also, In the latest statement by the brokerage house, Nomura upgrades its outlook on NetEase (NASDAQ:NTES). The current rating of the shares is Buy, according to the research report released by the firm. Previously, the company had a rating of Neutral. The rating by the firm was issued on May 12, 2016.
NetEase (NASDAQ:NTES): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $200.00 and $197.02 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $200.00. The buying momentum continued till the end and the stock did not give up its gains. It closed at $199.05, notching a gain of 0.14% for the day. The total traded volume was 967,775 . The stock had closed at $198.78 on the previous day.
The stock has recorded a 20-day Moving Average of 7.59% and the 50-Day Moving Average is 15.1%.
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.