Tencent Holding LTD (TCTZF) has been trading within a long-term Channel Down since the January 30 2023 High. Such +1 year consistency is hard to overlook technically, especially since the price got rejected last week not just on the Channel Down top (Lower Highs trend-line), but also on the 1D MA200 (orange trend-line). It has to be said that despite the...
For Tencent Holdings, we currently believe we are in an overarching Wave III, which should be created with a 5-wave structure upwards. This should naturally extend far beyond the Wave I level at the all-time high of 715 HKD. We anticipate a rise to at least 1338 HKD for this overarching Wave III. Wave II concluded at 188.6 HKD. Zooming in, we see that we are...
W Formation has formed recently on Tencent Holdings. And where the price broke above the Neckline is also where the price has broken it's downtrend for the first time since January 2023. This deems a very positive sign for buying and demand to push the price up. Nature of the trade analysis is High Probability Too. Price>20MA and Price>200MA Target...
Analyzing the options chain and the chart patterns of TME Tencent Music Entertainment Group prior to the earnings report this week, I would consider purchasing the 11usd strike price Calls with an expiration date of 2024-4-19, for a premium of approximately $0.43. If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Is Tencent Stock a Buy Now? Tencent posted its third quarter earnings report on Nov. 16. The Chinese tech giant's revenue fell 2% year over year to 140.1 billion yuan ($19.8 billion), which represented its second consecutive quarter of declining revenue since its IPO in 2004. Its net profit rose 1% to 39.9 billion yuan ($5.6 billion). On an adjusted basis, which...
Tencent remains in our magenta-colored (long) Target Zone, which extends from HK$302.60 on the upper edge to HK$237.40 on the lower edge. It is still our primary assumption that the stock will establish another marginally lower low within this price range. Once the wave (2) in magenta has been completed, we expect the price to rise above the resistance at...
Firstly, apologies for coughing around the 8th min (too much chocolate). Basically this analysis builds on top of the HSI and China A50 analysis that I've done previously and that I expect Tencent to move down to $246 and hits the lower channel line as well as 1x of wave (1) distance by 2023 year end.
My previous analysis of the Hang Seng Index was invalidated. And now I've done a revamp of the wave counts for 2023. This is the summary: 1. Hang Seng will continue to fall either till Christmas or EOY. 2. Target support, or end of correction, will be 14980-15100. Look out for this support zone.
$TENCENT shows sign of price bottoming on last Thursday with high volume supporting the price from going down lower. (Yellow square box) Based on our analysis, the rebound signals further sets in with price recover more than 50% of the Friday morning price fall. This indicating demand is coming back in after 2 weeks retrace & selling pressure easing. Which could...
Naspers has been trading in a very sideways fashion over since the beginning of the year with support evident in the 2920-2980 area with resistance at 3400 - 3570 on the upside. Most likely with a nibble at the bottom of the range which looks to be holding for now
HSI overall looks weak BUT tencent at support level. Good risk/reward Pink line SL Blue line tp. Can take 2/3 TP and let 1/3 run and adjust SL to entry price when move to blue line
W Formation formed after it's been in consolidation for a while now. The previous trend was up, so the conditions have lined up as a high probability trade. The price has broken above and looks to be heading up. 7>21>200 RSI >50 Target R1661.98 SMC Sell Side Liquidity Order Block just below the Second leg of the W Formation. This is where Smart Money has been...
Falling Wedge Formation is evident on the daily chart. The price is still consolidating around the apex. We need the price to break up and out of it to confirm upside to come. 7=21 Price >200 RSI>50 Target R4,000 ABOUT THE COMPANY 2023 Naspers was founded in 1915 as a newspaper publisher in South Africa. The company is headquartered in Cape Town, South...
Tencent break in uptrend structure - Bearish Tencent has eventually broken below the Uptrend structure after fantastic upside. This means, the price is now in free fall and is more likely to touch the previous support (brim level of the last Cup and Handle ). 21<7 price>200 - Reversal RSI <50 - Bearish Target 312 I just did an analysis on Naspers which we spoke...
After a fantastic long trade with Naspers, it's eventually broken below the Uptrend structure. This means, the price is now in free fall and is more likely to touch the previous support (brim level of the last Cup and Handle). 7=21 price>200 - Reversal RSI <50 - Bearish Target R2,766.00 As always it is correlating with Tencent and Prosus... We saw a sluggish...
Tencent Music Entertainment Group operates online music entertainment platforms to provide music streaming, online karaoke, and live streaming services in the People’s Republic of China. Trading at 66% below our estimate of its fair value Earnings are forecast to grow 9.07% per year
Since we sent out the trade idea on Prosus, it formed a beautiful Cup and Handle which broke our of the brim level. 7>21>200 Moving averages all looked perfect and RSI was above 50 Green backgrounds all around. The first target he set was to R1,445.20. WHich it hit last week. Now unfortunately, there is no other chart pattern that's formed but instead a bull...