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As a shareholder , I am not too happy. But as a parent who has two kids pretty glued to the phones , this might be the answer to help them stay away from their phones and do something else. To be fair, I am not born in the internet or mobile phone era where information are readily available online. Naturally, kids will resort to their device as the primary resource to seek answers.
Current price is supported at the 618 Fib Level but I am of the opinion that it will continue to falter for a while more. The next level of support is between 220 -230 where a small gap up happens on 10 Nov 2022. If we are lucky, we might see some support at 246 price level.
The confidence in China stock market is getting dimmer by the days and weeks as I hear more stories of people dumping shares and calling China uninvestable. For now, I am not selling since it is already in the red and this is a government regulations that is beyond what the Company can do.
The recent shares buyback program (read here here ) fails to move the market at all and now with this piece of bad news.
From Feb 2023 at its peak of 415, it has fallen more than 35% and the pessimism in the stock market is not helping at all. What will the fate of Tencent be like ?
As a shareholder , I am not too happy. But as a parent who has two kids pretty glued to the phones , this might be the answer to help them stay away from their phones and do something else. To be fair, I am not born in the internet or mobile phone era where information are readily available online. Naturally, kids will resort to their device as the primary resource to seek answers.
Current price is supported at the 618 Fib Level but I am of the opinion that it will continue to falter for a while more. The next level of support is between 220 -230 where a small gap up happens on 10 Nov 2022. If we are lucky, we might see some support at 246 price level.
The confidence in China stock market is getting dimmer by the days and weeks as I hear more stories of people dumping shares and calling China uninvestable. For now, I am not selling since it is already in the red and this is a government regulations that is beyond what the Company can do.
The recent shares buyback program (read here here ) fails to move the market at all and now with this piece of bad news.
From Feb 2023 at its peak of 415, it has fallen more than 35% and the pessimism in the stock market is not helping at all. What will the fate of Tencent be like ?