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tangman
Nov 18, 2019 7:24 PM
[Long Idea] Tencent wedge
OTC:TCEHY
1D
Tencent Holding Ltd.
OTC
Description
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Nov 18, 2019 7:24 PM
Here we have a pretty sizable descending wedge, that may or may not break out. There is a positive divergence against MACD.
I think it will break out eventually, with central banks starting to ease again now that the Dollar is weakening a bit.
Tencent is the third largest holding in EEM, which has been looking bullish lately.
Comment
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Nov 19, 2019 10:07 PM
Got a breakout today, but everything was a little weak with S&P selling from the open.
Heiken Ashi shows this chart pattern very well:
We could possibly see a very bullish move soon especially if we work off some of the euphoria in the markets.
Chart Patterns
Comments
RonaldNewcomb
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Nov 19, 2019 8:52 PM
OK, but the Stoch RSI wedge is just the opposite. I drew a similar wedge to yours (but back to the previous peak) but then looked at the Stoch RSI. We shall see.
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