TENCENT (0700)
Tencent (0700) is currently trading near the green trendline. Its EMA10-EMA20 and MACD golden cross suggesting a possible uptrend. Hence there is a possibility of a retest of the HKD510 resistance with next resistance at HKD550.98. In contrast, a bearish bias and a short selling opportunity might arise if there is a daily close below the red trendline. Subsequently, downside support located at HKD400 and HKD368.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.