NTES struggles to hold supportAfter repeatedly struggling to break the $150 level (red) back during the summer of 2015, NTES finally broke through that level this past November. The stock peaked around $185 and has since pulled back to the old $150 breakout point. NTES has found support at $150 a couple of times over the past couple of weeks, but yesterday the stock closed just below that mark.The Tale of the Tape: NTES failed to hold its $150 support yesterday. A trader could enter a short position near $150 with a stop placed above the level. If the stock were to break back above the $150 level, a long position might be entered instead.Before making any trading decision, decide which side of the trade you believe gives you the highest probability of success. Do you prefer the short side of the market, long side, or do you want to be in the market at all? If you haven’t thought about it, review the overall indices themselves. For example, take a look at the S&P 500. Is it trending higher or lower? Has it recently broken through a key resistance or support level? Making these decisions ahead of time will help you decide which side of the trade you believe gives you the best opportunities.No matter what your strategy or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade. Capital preservation is always key!Good luck!Christian Tharp, CMT@cmtstockcoach