TENCENT - long term scenario
This is, again a very long term scenario! But for long term investments, you really should be able to see where something could potentially go. Not to say that you are going to be right even 50% of the time on such calls but I still believe they are important! If you can't come up with a scenario that would generate above average returns, there most likely ain't one!
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Tencent
$PLFX is a truck of tinder waiting to catch on fire!The .45 closing for PLFX caused the stock to tap resistance for a 4th time while prepping for a golden cross right when there was a squeeze. Support held at .31 since June 29th. MACD has a large upward alligator mouth, RSI is slightly overbought, STO overbought and CCI has shown a steady upward movement since June 29th. Hopefully news releases and the CCI can stay above the 0 line when the market opens again. PSAR should be flipped next opening day as well. Last note... the stock has only been lower one time back in 2015 so the support is exponential.