Wyckoff_Trader
Short

Distribution Phase in Progress

HKEX:700   TENCENT
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6
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Supporting Technicals:
- Various indications of distribution phase identified
- Tencent is trading weaker than market
- FFI remains below zero signalling fund outflow
- MACD momentum remains downward bias

Risk:
- FFI is below zero but upward sloping

Stop:
Above short term down trendline (Green)

Target:
1st Objective is HK$340-350 zone
(Fibo 1.618% + Previous minor consolidation phase)
Trade closed: target reached
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