After a crash of 40%+ from the recent high in Feb, is it time to buy Tencent again?
Tencent has not closed below the 40 MA on the monthly chart yet. The last few times it has fallen close to this moving average, it has provided a great buy opportunity for the short, mid, and long term.
Currently, the MA level to watch is 431. If we close below this moving average, it could be a strong sign that downside risk has increased again...
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bloomberg.com/.../china-convenes-banks-in-bid... Bloomberg News July 28, 2021, 9:01 AM EDT Updated on July 28, 2021, 12:35 PM EDT China’s securities regulator convened a virtual meeting with executives of major investment banks on Wednesday night, attempting to ease market fears about Beijing’s crackdown on the private education industry. The hastily arranged call, which included attendees from several major international banks, was led by China Securities Regulatory Commission Vice Chairman Fang Xinghai, people familiar with the matter said, asking not to be named discussing private information. Some bankers left with the message that the education policies were targeted and not intended to hurt companies in other industries, the people said. It’s the latest sign that Chinese authorities have become uncomfortable with a selloff that sent the nation’s key stock indexes to the brink of a bear market on Wednesday morning. State-run media have published a series of articles suggesting the rout is overdone, while some analysts have speculated government-linked funds have begun intervening to prop up the market.
@mercifulFish62053, Its interesting to buy - but i think its more interesting to check bitcoin now. and of course with always manage the risk
Free_Crypto
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Tencent is based in China. Chinese communist government is tightening control over privately-owned companies.
The communist party policy has changed drastically in recent years after Xi took power.
The long term doesn't look good. Big funds are escaping from China and Hongkong.
a-5p3ky4l8r
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Zoom out to the quarterly, bearish divergence on the RSI, not a good long term outlook.
The dip is not technical. Learn Chinese and know about China before buying.
raoultesla
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@sadik82,
Mandarin is not easy. Is Top 4 hardest languages from Monterey Bay Institute.
I enjoy, similar to music, and grammar is efficient.
I am still horrible.
jaya73
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I think Sadik82 meant by Chinese is the Chinese social economic eco system. How the Chinese enterprises survive and what’s the possible future ahead of them.
jaya73
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@sadik82 totally agree with you. It would be dangerous to view the ‘dip’ simply from a technical point. Personally, I think the bottom is not reached. Under Xi Jinping’s regime, anything is possible and the worst is yet to come.