TCEHY is doing some very precise and technical moves here, and now it did a , a downside tasuki gap, maybe? Or engulf? Don’t know, and don’t matter really.
Just be aware, because if it loses this light blue line the stock may face some trouble. Let’s see the hourly chart for some clues:
The price lost an upward trendline (blue line), and it’s in a , as it is in the . The rule here is the same, if it loses that blue line, expect it will seek for the lowers supports. Look at the again, these supports may be the thin pink line or even that thick red line.
Personally, I think there’re more interesting stuff to trade right now, but if you want to buy Tencent, you can, but be aware of the low today and most important, the “resistance zone”.
Trade well my friends and be safe.
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