Bullish bias based on Moving averagePrice supported by 200D MA & 23.6% Fibo. Break below $418, price will drift lower. Break above 38.2% ($490) will see next resistance at 50% fibo ($545)Longby probabilityta2
Are you doubling down on Tencent or freak out and sell ?Read article here One of the most frequent stock I was asked this week by my followers (sorry if I did not answer your PM as early as I wanted to). The way I look at it is like this - if you bought during June 2020 and hold till now, you probably see all your profits evaporated and hated yourself for not selling earlier. Yes and no. Yes because you could buy back now (assuming price stabilised at this support zone and PROVIDED you have the ability to fortell the market). If not, then do not be too hard on yourself. Nobody can time the market all the time and that is why when price becomes irrational and overselling is done by frenzy selling, it becomes an opportunity to value investors like us. That is if you hold a long term view of this company and believe in its growth story. In fact, I was looking at the paltry returns that my kids had in their bank accounts. After 10 years , it is miserable. So, I decided yesterday to open a new brokerage account and will start to buy fundamentally sound companies to invest and use this as a form of long term savings for them. Again, do not follow my style if you are not comfortable ,I am merely sharing what works for me in my circumstances. I do not know yours and will not advise if you should follow as well. So, please take it as a form of reference only . If this stock does move up to its previous peak price at 764, then at current price, it is more than 36% discount, which does not come by often. Short term volatility may still exist , not just for this China tech stock but the industry as a whole. Instead of worrying what else will the central government do next or when the market will truly bottom (I spent countless nights in the past trying to find the Holy Grail only to be disappointed), I prefer this method as it offers me time flexibility (no need to keep worrying if the price drops further) or constantly monitor the price. Hope this offers some form of help to those who are holding on to this stock and those who intend to get in. Longby dchua1969Updated 3
$TCEHY / TENCENT has bottomedTencent has bottomed. - Inverse H&S - High volume - Support from 200 WMA - Support from trend line - Oversold RSI What else bottoming out needs? Nothing IMO.Longby weaponizedgamma3
$TCEHY / TENCENT has bottomed- Inverse H&S - High volume - Support from 200 WMA - Support from trend line - Oversold RSI What else bottoming out needs? Nothing IMO.Longby weaponizedgamma1
$TCEHY / TENCENT has bottomedTencent has bottomed. - Inverse H&S - High volume - Support from 200 WMA - Support from trend line - Oversold RSI What else bottoming out needs? Nothing IMO.Longby weaponizedgamma1
Future for TencentFirst question is what is your holding period? If you look to invest for more than 6 months to a year, then good to build your first position in Tencent at current price and we might see 7xx in future (unknown timeline) . However, if you are trading for quick profit, the current price will most probably ranging within $100 before any significant move can happen as market starts to consolidate. Meanwhile, you could spend your fund on other active stock to make money instead of sitting in tencent till the chart has started to show sign of reversal. Not recommend to trade, but recommend for hold for long term at current price. by 100dollar2
Tencent Responds as CCTV Exposes the Account Renting ProblemSo far, the gaming giant has sued or sent letters to more than 20 account trading platforms and several e-commerce platforms, demanding them to stop all relevant services. The rates for account renting services for Honor of Kings – which usually cost CNY 33 per two hours – have been emerging on the Internet and, in response, Tencent Game, the gaming sector under the tech giant Tencent – developer of the MOBA game Honor of Kings – claimed that account leasing and selling seriously damaged the game's real name system and protection mechanism for minors. By far, having sued or sent out letters to more than 20 platforms, it demanded a full stop of all relevant services. On August 30, 2021, the National Press and Publication Administration issued a 'notice' to prevent minors from falling addicted to online games. The 'notice' states that all online gaming enterprises can provide minors, on Friday, Saturday, Sunday and legal holidays only, with one-hour services max (specifically from 20:00 to 21:00) and offering online gaming services to minors in any form at any other time is prohibited. Yet, on the evening of September 6, CCTV, the state-controlled outlet, outlined in its news broadcast how a grey industrial chain has emerged on the Internet that rents and sells game accounts, which enables the minors to play online games without restrictions. On the account renting platforms, users can trade accounts of a variety of popular games including Honor of Kings and PUBG. So far, the owner of Honor of Kings has called on relevant departments to issue corresponding laws and regulations to strictly control the account leasing and selling problem. Despite the issuing of the 'notice', according to surveys, the policy did not have a material impact on the revenue of gaming companies. Previously, Tencent disclosed in the 2021 interim report that players under 16 accounted for only 2.6% of the total game revenue, of which only 0.3% came from players under 12. Analysts from Jefferies Group predicted that about 5% of Tencent's game revenue came from minors under the age of 18. In other words, if the game business accounts for about 60% of the gaming tycoon's total revenue, the new regulation's impact would be barely 3%.by EqualOcean0
Potential Reversal of Tencent (HK 700)We are seeing a potential rebound on the cards for TENCENT (HKSE) due to the various information from volume.Longby Ncspace_InvestingUpdated 1
JICPT| Tencent completed retest, ready to challenge gap! Hello everyone. It's a good day for tech bullish buyers, especially Tencent fans. On the daily chart, I found the retest has been completed with a bullish leg-out candle formed today. Looking above, the next challenge is the gap from HKD513 to HKD528. Also, there is a downtrend line which may weigh on it. Looking forward, the valuation is attractive and I'm bullish on the stock. Though, it could have a second fall to the level of HKD479 before coming back again. What's your opinion? Give me a like if you're with me. Longby JICPTUpdated 224
Tencent bullish set up 7 Sept 2021Inverse head and shoulder pattern with volume acting as support. Smoothing of 50 ema, and approaching 200ema soon. Probably a good time to add when there is near retracement Near term target price: 560 ~Longby HX_Fund3
#700 Strong Support on the Red LineHi Everybody There is a strong support from a weekly uptrend line (red line). The blue line is the recent resistance level, waits for a breakthrough the blue line i guess!Longby TradingWaves12345Updated 2
Tencent Stock 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, Crypto, Indices and Stocks PM me.Longby IllyrianTrader1
[Analysis] Tencent (700)(HK)Even after a 47% retracement from its high, Tencent's uptrend is still intact. Currently, there is a support/resistance formed at 410 and 510 respectively. We do see a huge volume coming in within this price range yet, the price is still holding. This suggests that there is a huge demand coming in to soak the selling. As long as the price remains above the support level at 410, we can safely say demand is coming in and the chances for price rebounding is high. However, before the price proceeds higher, there will most likely be a prolonged consolidation period to exhaust the sellers. Hence, if you plan to buy in during this period, ensure that you have holding power. Or... You can wait for the consolidation to happens and then buy the breakout above 510. Show price drop below 410, we are in a deep bear territory and we should not be holding any longer. Longby NimbusCapital4
TENCENT - First hurdle - Following the previous post in the link below , price is back at another "key" level - Down sloping 50 day moving average - Down Trendline - Below the 200 day moving average We could flag here to reset for the next push up or fade back down to earlier support zone. Im still bullish on the long term but am cautiously watching each level of resistance -- MANAGE YOUR RISK - - Disclaimer: All ideas are my opinion and should not be taken as financial advice. by Trader-Dan0
SupportedThe Bollinger Band, The high of August 13th and the Fibonacci are supporting a recovery.Longby motleifaulUpdated 0
tencent movement10cent long move tp 6.2-6.4,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,Longby GlennTong0
Time study about 700 Tencent700 first down wave runs 55 trading days from Feb 2021 700 second down wave runs 55 trading days from June 2021 I'm expecting 55 trading days up from the recent bottom! happy trading!Longby qero1
Tencent bearish to $450 Tencent if do not go up above 620 beyond the moving average by next week and break below 590. We would expect a fall to 500 Range and possible hitting 450-480 zone. $450 would be an attractive price to buy and hold Tencent for the long term. Shortby 100dollarUpdated 223
Is this the bottom? Double your money from these levels?It may or may not be the bottom, may be another $10 downwards. But this is the time to buy chinese stocks. If it looses another $10 then buy more. My long term target is $150. by babu_trader113
Buy near the supportBuy area would be around 45 ish, the target would be around 68-70 Do your own research.Longby stktk0
JICPT| Tencent bouncing from previous low with better earning!Hello everyone. The reported earning today is way better than the estimated number. However, I noted a gap down at the opening with previous low sitting around HKD 421. Basically, the continuation of the crackdown on the tech companies worried investors. Today's upper wick candle suggested selling pressure. The nearest support level is previous low of HKD 421. What's the next key support level if 421 is violated? On the Monthly chart, HKD 394 is identified as a confluence supporting level with flip, mid-term MA and uptrend line . Don't use up all your bullets if price drops to the level. We all know that emotion may push the price further down. But, in my opinion, HKD 394 is really a reasonable & cheap price for Tencent. I'd like to hold it for 2-3 years. What do you think? Give me a like if you're with me. by JICPTUpdated 6