Tencent Set to Release 'Dungeon and Fighter' Mobile Game in May

Tencent Holdings, ( TME ) the Chinese multinational giant, has announced the release of its highly anticipated mobile game, 'Dungeon and Fighter: Origin'. Developed by Korean company Nexon, the game is a mobile adaptation of the popular computer game 'Dungeon and Fighter', which is considered to be one of the world's most profitable computer games.

This announcement comes after seven years of development, during which the game initially received government approval for release in 2017, before having its approval revoked. However, Tencent was granted a new license for the game in February of this year.

The official release date for 'Dungeon and Fighter: Origin' has been set for May 21. The action game is expected to be a significant addition to Tencent's mobile game portfolio, given its immense popularity and profitability.

Technical Outlook
Tencent Holdings, ( TME ) stock is up 2.29% prior the fundamentals trading above the 200-day Moving Average (MA) with the Relative Strength Index (RSI) of 58. The stock has consolidated in price for the 2nd time starting a new rising trend after the current consolidation faced at $11.76 pivot point.