Last wave, I have an additional view. from $395, there's a $39 drop and a gap down with another $39 drop to the bottom.
this time, top at $345, I've already short on 340. so, today, I'm positive a little on hand and opening this idea.
Let's say $345-$39, it'll be around $306.
If you check my last post, you should see the target 2(or B, I forgot what I called...
1. Would be extremely cautious as death cross forming with EMA20 and 50 crossing EMA200. Possibly around price of HK$350 in coming 2-3 trading days.
2. Oversold now but remains to see if rebound can support at $330 will hold.
3. Price has already retraced to 50% of run up to HK$480.
4. Would not enter until we see support hold at either HK$325 / HK$300 (higher...
Following most Chinese Internet Companies, #Tencent succumbing to the Trump tax-blow. A breakthrough it’s 6-month support line does not paint a pretty picture for the share price going forward.
Next support level could be around the lows of March (350HKD), with a break most probably testing the 200-day moving average at 334HKD. Share price has lost a lot of its...
Idea: we see 700 top at HKD$395 on May 8, and 4 days later it dropped HKD26 in total, bounced up and wasn't able to bounce back up above EMA30.
as drop ABC, where A is $26, and C expects another HKD$26 drop from May 15 @$378.4 to HKD$352.4
Tencent: Medium Term Technical Analysis HKEX:700
A review of the weekly chart sees the price respecting three (3) trend line resistance levels:
1. Going back to March 2014
2. The underside of the incline support going back to February 2016, which is also a sharp back-test of the prior breakdown.
3. The incline support going back to October 2018.