Potential death cross on HKSE 700 (Tencent) in formation
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 probability) confirmation. Or some low chance of price falling until strong resistance at HK$260, erasing all gains.
700
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 probability) confirmation. Or some low chance of price falling until strong resistance at HK$260, erasing all gains.
700
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