8/9 TENCENT(1) simply watch the chart, not much technical analysis for this one
(2) I'm ready for picking up some :/
TCEHY trade ideas
Tencent at KEY technical levels!From a price action perspective, Tencent looks primed to make its next leg up. Firstly, price has found support on a bullish trendline formed in late 2018 that has been tested and held multiple times. Secondly, price has bounced off the weekly 200 day MA, as it has done previously in March 2020 and October 2018, with a high level of accuracy. Thirdly, price has made a 0.618 Fibonacci retracement, a key reversal level, from its October 2018 lows. Moreover, the RSI is showing oversold levels but more importantly is showing bullish divergence. Taken together, a trader may have a high level of bullish conviction based on these technicals - it really does look like a textbook move.
Despite this, from a fundamental perspective, Chinese tech stocks are under a massive amount of pressure from the Chinese government over monopoly concerns. Cathie Wood of ARK invest recently liquidated large amounts of holdings in Chinese tech stocks. Other Chinese tech stocks like Alibaba and Baidu have also recently suffered a deep slide in their share price.
Should the regulatory concerns blow over, this set up presents a very attractive reward. However, the fundamental risks must not be ignored and still present a very real threat to the stock price.
Tencent showing divergence As you can see in the image, RSI has travelled up while price has moved down. It shows momentum loss and probably we are headed for 550 or thereabouts.
Good company with excellent future prospectsProbably one of the best ideas in the Chinese stock market along with Alibaba. The company has excellent financial performance, good technical picture on the chart, lots of other assets. There are certainly risks that the situation could get worse, so I will buy in parts @ 470-400.
$0700.HK Tencent, big weekly level here.. Trendline + 200wmaThis chart needs no comment but clearly a great level for investors looking to fill their boots if we can hold onto the longer term TL + 200 week ma. Tencent doesn't often get oversold under 30 - in fact, it has only been this oversold twice since 2005.
when to buy tencent?wait for daily divergence to form... pattern to form b4 enter .typical long setup with good R:R awaiting
Tencent OK to buy around HK$400, Worst case HK$330recent crash in China tech provides solid opportunities
I'm OK to long Tencent around HK$400
TENCENT > MA SUPPORT > LONG1) 200 MA Support
2) All MA Trend up
3) STOCH oversold
4) Good financial, increase revenue and earnings past 4 years.
It seems that the pullback is overPullback is over it seems, the long shadow candle suggests that there is buying pressure at the support. Lets see how this turns out
Hong Kong Tech Giant Tencent, is it time to buy? After a crash of 40%+ from the recent high in Feb, is it time to buy Tencent again?
Tencent has not closed below the 40 MA on the monthly chart yet.
The last few times it has fallen close to this moving average, it has provided a great buy opportunity for the short, mid, and long term.
Currently, the MA level to watch is 431.
If we close below this moving average, it could be a strong sign that downside risk has increased again...
TENCENT - Area of interest and possible relief- Tencent has been smashed by the recent developments in the Chinese markets.
- There is no clarity as to how this will play out going forward but looking at the chart we have approached strong support
- The loss of this level could lead to a further decline 360 / 262
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
TCEHY Tencent Head And Shoulders Chart PatternIn the chart you can see a schoolbook Head And Shoulders Bearish Chart Pattern.
Theory says that you measure the distance from the neckline to the top and then consider the same distance to discover the bottom from the neckline down.
In this case it coincides with the strong 40usd support!
ARK also sold its positions in TCEHY Tencent Holdings Limited.
I`m looking forward to read your opinion about it!
Tencent SelloffGovernment crackdown on China tech has really set in. Now tencent is currently has had a similar low point to 2018 approximately 40%. Investors are stuck at a junction to decide whether the price goes up from here or down. If we take similar sell offs based off previous we see tencent at about 170, a further 60% from here. If we take the fundamental approach we see tencent bounce very soon.
So my game plan, Sold put strike @440 for 30c. If the share price stays below 440 on 30 Aug i am obliged to own at 440. If the stock stays above 440 I am collecting 30 c effectively having my entry lowered to 410 to sell another put
Tencent sell-off a little overdone?With the Chinese crackdown on tech stocks and the latest announcement banning for-profit education, Tencent has seen a significant impact on its latest share price. The latest move has seen price rejected all the way to the Monthly/Weekly S3 @ 490 which is considered very extreme from a technical standpoint and ignoring fundamental factors for a moment will provide an excellent risk to reward opportunity for a pullback to the yearly pivot @ 507 followed bt a gap close at the Monthly S2 @ 530. Should we see more downside the only other obvious major level of support is near 475
Tencent Rushes into AI Chip Design MarketChina's Internet giants – Baidu, Alibaba and Tencent – have now all joined the semiconductor design race.
On July 14, Tencent (00700:HK) posted multiple positions for AI chip development-related roles on its official recruitment website. These include chip architects, chip verification engineers, chip design engineers, which were all posted under the Tencent Technology Engineering Group (TEG).
In response to the news, Tencent revealed (link in Chinese) that it has tried to develop some chips for specific applications, such as AI acceleration and video codec, and non-universal chips, based on some business demands.
Tencent started its foray into the AI chip market a few years ago as an investor. In August 2018, Tencent led pre-Series A round of AI startup Enflame. Later on, Enflame raised CNY 700 million in Series B and CNY 1.8 billion in Series C, while Tencent joined both rounds.
The tech giant's in-house chip development intentions have been evident for a while. In March 2021, Shenzhen Baoan Bay Tencent Cloud Computing Co., Ltd., Tencent's wholly-owned subsidiary, was registered, with Ma Huateng as the actual controller. Per official announcements, the new company's business scope includes IC design and research and development.
Baidu and Alibaba have been involved in the chip sector for years, where Baidu was the first entrant. In 2018, it announced the launch of the first in-house AI chip, Kunlun, designed to optimize AI workloads and improve Cloud computing's cost structure. Alibaba unveiled its first AI chip, Hanguang 800, in 2019. The chip is applied to the Taobao platform, which can reduce computing tasks requiring one hour to five minutes.
The AI chips developed by Baidu and Alibaba are mainly used for expanding their own existing businesses. Tencent's interest in self-developed specialized chips might also have something to do with vertical integration of the technology chain.
JICPT| Tencent approaching key bullish structure, buy the dip!Tencent has dropped from its peak level in Feb. by more than 30% till today. The demand zone of 555-579 failed to hold after the second revisit.
The market cap is still over $700B after the drastic fell due to investor's concerns of regulation squeeze. It all went back to Jack Ma's speech at the Bund Summit in Shanghai in Oct. 2020. We all know what happened after that. The sudden suspension of Ant group IPO was just the start...Then came with the fine and tightened regulation on personal data usage and protection. That affected all Chinese tech companies who have minimum regulation in the past. The crackdown on the tech companies impact its valuations and triggered sell-off from investor due to the uncertainty.
So, that's a brief explanation of why Chinese tech stocks suffered a great loss this year. what's next?
First of all, what's the motivation behind the regulator? Does it want to shut down those super-star companies who were regarded as the proud of the nation in the past? Definitely no!
I know the recent 22 investigation on those tech companies, but the fine is capped at RMB 500K, less than $100K. That's nothing. Maybe, investors are sort of overreacted.
So, let's get back to the technical side. On the chart, I note the price is approaching my long-term MA in red color around 477. Beside, the level is also a flip level. That's an odds-enhancer.
Personally, my investment portfolio has exposure to Tencent. The recent drop did not make me scared, instead, I'm ready to buy for my long-term return!
So, this is not a trading idea. Sometime, we need to be patient.
Give me a like if you're with my idea. It's Friday night here in China. Take care and enjoy your weekend.
Has it bottomed?Alibaba Group (9988) and Tencent Holdings (HKG:0700) are considering opening up their services to each other as Beijing clamps down on anti-competitive practices in the tech sector, The Wall Street Journal reported Wednesday, citing people familiar with the matter.
The potential move will likely break the virtual wall that the two tech giants have built, preventing users from accessing one company's tech platform using the other's services, the report said.
Alibaba may allow users of Tencent’s WeChat Pay to make payments on Alibaba’s e-commerce marketplaces Taobao and Tmall, a move that could be announced in the coming months, according to the report.
Tencent will also likely allow selected Alibaba services to access WeChat users through mini-programs or light apps that are embedded in the main WeChat platform, the WSJ said.
The report comes as China tightens its crackdown on monopolies, particularly in the tech industry dominated by Alibaba and Tencent.
In April, China's antitrust regulator slapped a record fine of 18.23 billion yuan ($2.82 billion) on Alibaba over what it described as the company's abuse of market dominance for years.
