Tencent: I'm buying the dip. It never falls below 40 on RSI indicator. Correction is on the way.
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...
My thoughts on this are pretty simple. It's a strong, growing company that's pulled back with the market, and will rebound as it always has.
Divergence indicate that a correction is coming. I will be looking at a good place to pick it up.
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...
I have a feeling Tencent will break this 4+ year trendline and retest the 22 area. Not a strong feeling.