In this briefing:
- China Internet Weekly (8Jun2020): AMD Said Not to Buy AMD on Pinduoduo.
- NetEase Solid Uptrend Targets
- AMD (AMD) claimed they had not authorized Pinduoduo (PDD) to sell any of their products.
- Kuaishou, the second largest short video app in China, will promote JD.com (JD) instead of Alibaba (BABA) and Pinduoduo (PDD).
- The State Post Bureau of China expected home delivery orders to increase by 39.6% YoY in May.
NetEase Inc (NTES US) displays a firm uptrend as the tactical cycle moves into a top zone in late June near the 453 area. Near term buy supports are defined as well as macro buy support and the macro projection target for later this year/2021. Use pockets of weakness to add or accumulate.
The shorter term cycle does show signs of a top forming at higher levels in coming weeks due primarily to the RSI beginning to diverge with price.
Trend support is expected to provide positive support for a HK listing.
Buy volumes are strong and trending higher on this rise (bullish).
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