The TECENT declined nearly half of its market value from the beginning of this year. Many investors are anxious about its future.
Where will it go next?
Now there is an opportunity for traders to buy.
1. A good demand zone is at 260-270 levels.
2. The 2.618EXT of the leg in the top is at 272.
So it is good to buy at 260-270.
SL: below 260
TP1:333
TP2:400
entered into a short position on 0700.hk on 27-sep based on multiple ideas convergence: stoch 5-3-3 over bought came down while broke through 20d EMR and stoch 5-3-3- 0.382 and also most important conv with HSI weakness as tech sector has been the weakest sector for 2 weeks already. a bit sloppy as I didn't have much time to follow closely due to work, and it was...
My target is 170 before accumulation happens. Do you feel panic in the market? I do not feel it. We need panic first
Unlike Bitcoin, it takes far longer for stocks to finish its correction
Bearish TK cross below the Cloud.
Entered short position by today's morning and expected more downside to go.
Bearish intermediate trend is awaiting to trade below $300
Tencent: short-term short, long-term long
Based on what have I observed for the past few months, tencent's price is on a short-term bearish trend caused both by its under-expected earning on online games, China's regulation on online game industry overall, as well as the elephant in the room, trade war.
Short term wise, RSI negative reversals are coming on...
TENCENT is a solid company that has been hit from the ongoing turbulence in the region.
The chart shows us that practically since January the stock gradually entered in a long 4th wave (down).
The projections of this move gave a target (black line) not far from the low of past Friday.
In addition Momentum shows that the stock is deeply oversold.
So, with solid...
I like what I am seeing on the Tencent ADR chart. The price has been knocked back as a result of fears around Chinese government regulation - but as you may know - I'm always up for a good reversal play. The stochastic is signaling a bullish crossover while the RSI is signaling a bullish divergence. Currently at $39.99, the price is extended well below it's...
According to Lester Davids, Trading Desk analyst at Unum Capital:
"Some positivity on the Tencent Chart - Could be a driver tomorrow.
- Bullish Divergence
- Extended well below it's 200dma (HK$404)
- Chinese market sentiment overwhelming negative"
Contact the Trading Desk on +27 (0)11 3842920 or tradingdesk@unum.co.za to discuss.
Tencent is a trending NASDAQ stock from china, formerly a bullish stock now very volatile often losing from lack of progress in the game Fortnite.
Tencent gets forty percent of Epicgames profits, the creators of Fortnite battle Royale, one of the most popular games ever created with nearly 150 Million downloads! unfortunately for...
I ain't saying it won't go down a little further, but, buying a company like that at a price like this is a no-brainer and too good an opportunity to pass up on.
This is to be kept long-term; with a potential for 30%+ to the upside. Tencent isn't going anywhere anytime soon.
Supporting Technicals:
- Various indications of distribution phase identified
- Tencent is trading weaker than market
- FFI remains below zero signalling fund outflow
- MACD momentum remains downward bias
Risk:
- FFI is below zero but upward sloping
Stop:
Above short term down trendline (Green)
Target:
1st Objective is HK$340-350 zone
(Fibo 1.618% +...
fib levels looking at places to add/start a position in this monster
Tencent is a massive Chinese company that owns WeChat and a sizable portion of Fortnite among many other things
Pretty confident that FB's data on Americans is nothing compared to the data WeChat has on Chinese people due to how much the "super app" is used.
