This analysis forms part of a larger research report.
Trader Type: Intraday/Active
Tencent (HK): +2.50% (07:23am SA Time)
Chinese Tech ETFs (US Market). Thursday, 10-Dec.
KWEB: +1.19%
CQQQ: +0.12%
Yesterday's Value and Volume:
Value Traded: +R1.2bn
Volume: 516k shares
Chart Time Frame: 1-Hour
Last: 251955c
How I'm Seeing It: On Friday, the share hit my provisional support zone of 2466 (actual low of day was slightly lower at 2456) from which we saw a R69 rebound from that level to a high of R2525 (this also being my intraday distribution zone). Did you manage to trade it? With Tencent higher by 2.50% in HK this morning (7.22am SA Time), a rebound looks likely. Provisional Resistance: R2547-2553. Provisional Support: R2491-2500.
Disclaimer: The above analysis should not be considered as a trading or investment recommendation.
Disclosure: No position held.
In addition to NPN, I also provide short term trading analysis on other large cap JSE stocks including but not limited to FSR, SOL, MTN and AGL. In the offshore space, I focus on, but not limited to, the S&P 500, Nasdaq 100 and EuroStoxx 50 while also tracking USDZAR, EURUSD, DXY, USDJPY and AUDJPY among others in the FX arena.
For more insights and real-time ideas, get in touch today.
Trader Type: Intraday/Active
Tencent (HK): +2.50% (07:23am SA Time)
Chinese Tech ETFs (US Market). Thursday, 10-Dec.
KWEB: +1.19%
CQQQ: +0.12%
Yesterday's Value and Volume:
Value Traded: +R1.2bn
Volume: 516k shares
Chart Time Frame: 1-Hour
Last: 251955c
How I'm Seeing It: On Friday, the share hit my provisional support zone of 2466 (actual low of day was slightly lower at 2456) from which we saw a R69 rebound from that level to a high of R2525 (this also being my intraday distribution zone). Did you manage to trade it? With Tencent higher by 2.50% in HK this morning (7.22am SA Time), a rebound looks likely. Provisional Resistance: R2547-2553. Provisional Support: R2491-2500.
Disclaimer: The above analysis should not be considered as a trading or investment recommendation.
Disclosure: No position held.
In addition to NPN, I also provide short term trading analysis on other large cap JSE stocks including but not limited to FSR, SOL, MTN and AGL. In the offshore space, I focus on, but not limited to, the S&P 500, Nasdaq 100 and EuroStoxx 50 while also tracking USDZAR, EURUSD, DXY, USDJPY and AUDJPY among others in the FX arena.
For more insights and real-time ideas, get in touch today.