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Tencent Holdings: Medium Term Technical AnalysisTencent: 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. It should also be noted that the current breakdown as per the Relative Strength Index (RSI) closely resembles the prior price action of 27-Arpil-2015, 26-September-2016 and 22-January-2018. At current levels, the 40-week/200-day moving average trades at HK$333 which may act as a natural target should the short term weakness persist.
HKEX:700Short
by LD_Perspectives
My Tencent(s) worth - $700Tencent having a bit of breather this week after a great little run that started 4Jan19. Share price now getting close to the bottom of the channel (which is 329.60HKD), with the 50-day moving average (325.19) being a strong resistance level. A break below the 50-day MA could see us test the 304.60 levels. Share price is still above the 50-day MA, which are still pointing upward (the MA). This make the trend still healthy. A bounce off the channel could see us test the 200-day moving average at 342.95, with next resistance being at 363. Consensus forecasts are still very bullish on Tencent, with Thomson Reuters 12 month forecasts still showing 17% upside from current levels (according to mean forecasts from all analysts covering Tencent).
HKEX:700Long
by SchalkLouw
Long Tencent On Pullback & Fav Macro WindsRecording this trade: Long Tencent -Entry: $343.80 -Stop: $340.80 -Target: $350.80 . I was quite conflicted while taking this long trade as I was wondering why did Tencent drop when peers like Ping An and Xiaomi were all rallying. There was good news on the trade war side and I did read reports of challenging times for Tencent. I have even considered going short but then I realized that this is a short intra-day pullback and decided to go long. I don't have any special analysis on this long trade, just the simple candlestick chart that shows a bullish Tencent and general belief that the market had turned bullish despite concerns on Chinese growth and debt levels (even with the Qinghai default). . Recording this to see how the trade will go. .
HKEX:700Long
by kailevel
Victory Royale for Tencent?Tencent just invested 150 million dollars in Reddit, and keep in mind that Tencent owns 40% of Epic games... The creator of the video game giant, Fortnite. The Megalodon is giving us a buy signal on the technical side! The Megalodon indicator uses an artificial intelligence, combined with data from over 500 buy setups, and over 2000 indicators to produce extremely accurate buy signals on any and all asset classes! Send me a message if you would like to try it for yourself!
OTC:TCEHY
by RandallGurule
Education: Tencent – Only Look to Long for The Time BeingLooking at Tencent’s Chart, it had broken out of an inverse head and shoulders formation pattern with relative ease. Price action is now hovering above both the 50 and 200EMA – a healthy signal that for the time being, its on an uptrend momentum. PA was also supported by strong buyers that emerged from its previous consolidation region during July 2017 A good support area will be at 310, while a big resistance region will be at 378. Stay cautiously bullish. Best Regards, NourCapital - Tracking Smart Money Flow Disclaimer: The material (whether or not it states any opinions) is for educational purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by Nour Capital or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
HKEX:700
by Nour_Capital