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nyank1t
May 28, 2019 5:35 PM

Potential death cross on HKSE 700 (Tencent) in formation  Short

TENCENT HOLDINGS LIMITEDHKEX

Description

1. Would be extremely cautious as death cross forming with EMA20 and 50 crossing EMA200. Possibly around price of HK$350 in coming 2-3 trading days.
2. Oversold now but remains to see if rebound can support at $330 will hold.
3. Price has already retraced to 50% of run up to HK$480.
4. Would not enter until we see support hold at either HK$325 / HK$300 (higher probability) confirmation. Or some low chance of price falling until strong resistance at HK$260, erasing all gains.

HKEX:700
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