TECHNICAL ANALYSIS

The recent gap-up, combined with the stock's position above the 20 and 50-day EMAs indicates that NetEase is positioned for further upward movement in the short term. The widening gap between the MACD and signal lines confirms strengthening upward momentum, hence the stock is set to test the HKD140 resistance soon while the support at HKD130 remains vital for sustaining momentum.

Fundamentals

Net profit is expected to grow at a CAGR of 7.5% for the next 3 years with strong net margins circa 30%.

Source: Rakuten Research - 21 Nov 2024

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