Cup and Handle has formed on Naspers and has even gapped up showing strong momentum.
7 >21 >200 Moving averages all turned up.
Target 1 is R3,626.50
CONCERN is that Gaps close 70% of the time and Naspers is a wild one which acts erratically.
Number of reasons which I don't think they'll be happy if I tell you but I'm an independent.
1. Companies love to...
Price action and chart pattern trading: a possible rebound scenario
> Elliott Wave projection - falling zigzag ABC correction wave channel now at C-wave 0.786 extension of A-wave at the key level support.
> Downtrend target reversal position of the major top HEAD & SHOULDERS with double bullish divergence signal
> Target rebound > SMMA 50 key upper resistance POC
Price target for TCEHY Tencent is $56.
All the Chinese stocks are primed for a strong recovery after China`s top administrative authority said it would work to stabilize the stock market and boost economic growth!
Traders are expecting the Chinese government would support the stock market like the FED did in the US.
Hello Traders,
After China's stranglehold on video games HKEX:700 was one of the companies that suffered the most.
If you look at the weekly calendar it seems to have made support in this area.
Post your idea/analysis below for discussion.
Thank you all for your support.
For more accurate setups, stop loss, take profits and mentoring services, FX signals,...
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...
Hello dear readers,
In the last TENCENT Music analysis , I also talked about the reasons for the massive sell-off in Tencent and then created a trading plan.
Now the price is in the buy zone and I will build a long position. The reasons are:
- The sell-off was triggered by a Blackswan event.
- The price is at a strong cross support of golden pocket, trend...
Tencent could pull back to the 23.6% fib retracement, after a strong sell-off session today. Technically, a pullback is healthier in the longer-term to gather more bearishenss downward. if we can catch that pullback, it will be a good sell entry to rider the bearish trend going forward.
