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PPR - A good lesson

NTES has had a number of pocket pivots contained within a reasonably tight, constructive, price/volume structure over the last several days. Today, it had another pocket pivot then reversed. Volume is heavy. Naturally, some trades will not work, thus it is always paramount to know one's exit point whenever one puts on a trade.

NTES has gotten support at its 50-day moving average. Some may wish to keep looser stops on a small core position and instead wait for a violation of its 50-day, knowing that NTES has violated its 50-day twice in recent months then turned back around to hit new highs both times. Such stocks as we have said before contain added risk as they tend to trade in a sloppier manner.

A tighter sell stop could be to sell part or all when NTES undercuts the low at 70.5 of its sideways price structure. It is currently trading at 70.8.

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