Despite its dominance as a payment gateway with a monopolistic role in China, global leader in video games and many other businesses, the one thing that it cannot compete against is the strict government policies imposed by the Chinese government.
It has fallen more than 60% from its peak 4 years ago at 700 and thereafter it has been on a downhill ever since....
Ready for a bull run up.
-Crossed Macd on daily view
-Divergence at 4H
- Resistance at 87 , if it breaks 87 , then look for 94
- Earning out on Nov 3rd,
- Watch for a Run up before earnings or after earnings.
- keep your stop losses & Trade within your limits.
Happy Trading.. !
Volumes are five times greater than US and I think is useful to follow stock on HK market
Price cannot pass channeldown and long term trendline and this is a very bad signa
I think price will now drop to 64
Is Tencent Stock a Buy Now?
Tencent posted its third quarter earnings report on Nov. 16. The Chinese tech giant's revenue fell 2% year over year to 140.1 billion yuan ($19.8 billion), which represented its second consecutive quarter of declining revenue since its IPO in 2004. Its net profit rose 1% to 39.9 billion yuan ($5.6 billion). On an adjusted basis, which...
Anta Sports recently continued to rise after an impulsive downward spike narrowly missed the magenta Target Zone between HK$58.95 and HK$33.60. Thus, it is quite possible that this downward spike has already completed the low of the green wave (2) and that the stock is now marching higher. However, we are not convinced that this is the case, so we believe that the...
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Hello Traders ✌
After a careful consideration I came to the conclusion that:
- it is crucial to be quick in alerting you with all the...
read latest article here
Let's wait for the price to rebound off the support turn resistance line at 281.60 and if a bullish candle is shown, I will take an initial position.
Hmm, this may not happen this week , probably after CNY as this is a short trading week. Be patient, you need not catch the bottom to benefit from the rally so long the trend is in your...
Tencent remains in our magenta-colored (long) Target Zone, which extends from HK$302.60 on the upper edge to HK$237.40 on the lower edge. It is still our primary assumption that the stock will establish another marginally lower low within this price range. Once the wave (2) in magenta has been completed, we expect the price to rise above the resistance at...
Meituan's price is still trading at the lower end of the magenta Target Zone between HK$96.90 and HK$64. Our primary assumption remains that the stock is already working on the wave 1 rises in turquoise - and that it should soon leave the resistance at HK$103.50 well behind it. However, we must continue to weight the option with a 35% probability that the stock...
The HSI has risen sharply since Monday. Nevertheless, we continue to believe that the index is still working on a magenta-colored downward structure and is therefore not yet finished with its correction. Only after this five-part wave, and thus the turquoise-colored wave 3, has come to an end should things pick up a good bit - even if there is still further...
1. Backtest of 200 EMA and SMA
2. (Possible) ABC between 1.236 and 1.382 retreace (white)
3. 0.5 Fib retrace (yellow)
4. RSI and STOCH RSI reset
5. MACD in bullish trend
SL 11.88 HKD TP at least 16.98 HKD
www.tradingview.com (use dark mode)
China's Hang Seng index is -55% from the highs.
History doesn't repeat but often rhymes.
Russell Index also struggling.
Short setup, invalidation if Feb's monthly candle closes above ATH.
Sell, sell , sell. Much like the panic and frustration in the China property market, from Tier 1 to Tier 3 and beyond, you read up about more and more news about home owners selling their properties 30-60% off their purchase price.
The stock market is no better. Once , the darlings of China Tech industry, Alibaba is soon reaching its 80% lowest point from its...
