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...
HKEX:700 after years of down trend it is showing some sign of trend bottoming. Mainly supported by company share-buyback in the past few weeks. While selling pressure from the market is not strong to pull the price lower after each selling. This is indicating that the selling pressure is weak. Which supports the kick start of a bullish trend. In short term,...
Tencent Music Entertainment ( NYSE:TME ), China's leading digital music company, has defied market expectations with a significant surge in net profits despite a slight decline in revenue for the year 2023. The company's robust performance reflects a strategic pivot towards driving profitability through enhanced subscriber conversion and retention, underscoring...
Recent short term rebound shows peak sign yesterday with morning price surge erased in the afternoon. Which indicates selling pressure are coming back after rebound. We entered into a Callable Bear Contract yesterday at the peak with the analysis of current downtrend reacts more sensitive to sign of selling pressures. Which we see a possible short term price...
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...
Cup and Handle has formed on Naspers and has even gapped up showing strong momentum. 7 >21 >200 Moving averages all turned up. Target 1 is R3,626.50 CONCERN is that Gaps close 70% of the time and Naspers is a wild one which acts erratically. Number of reasons which I don't think they'll be happy if I tell you but I'm an independent. 1. Companies love to...
1Q Miss and COVID Likely Delays Recovery, but Easing Regulations Should Support Investor Sentiment; Maintain BUY and Decreasing PT to HK$400 HKEX:700 We are maintaining our BUY rating but decreasing PT to HK$400 (was HK$475) after Tencent reported 1Q earnings miss and implied continued macro challenges for 2Q. Domestic game revenue declined 1% y/y. Int'l game...
Price target for TCEHY Tencent is $56. All the Chinese stocks are primed for a strong recovery after China`s top administrative authority said it would work to stabilize the stock market and boost economic growth! Traders are expecting the Chinese government would support the stock market like the FED did in the US.
Tencent Holding - Short Term - We look to Sell at 65.50 (stop at 69.00) Preferred trade is to sell into rallies. Trading within a Bearish Channel formation. 65.00 continues to hold back the bulls. The 200 day moving average should provide resistance at 67.00. Previous resistance located at 65.00. Further downside is expected although we prefer to set shorts at...
Tencent is looking to prepare for the next stage of internet games with a new studio that focuses on metaverse. Tencent Holdings is assembling an international team for its new gaming studio that will be under TiMi Studio Group, a subsidiary of Tencent. Rumor has it that the company sent out an internal letter indicating the establishment of new 'F1'. According...
So far, the gaming giant has sued or sent letters to more than 20 account trading platforms and several e-commerce platforms, demanding them to stop all relevant services. The rates for account renting services for Honor of Kings – which usually cost CNY 33 per two hours – have been emerging on the Internet and, in response, Tencent Game, the gaming sector under...
Hello Traders, After China's stranglehold on video games HKEX:700 was one of the companies that suffered the most. If you look at the weekly calendar it seems to have made support in this area. Post your idea/analysis below for discussion. Thank you all for your support. For more accurate setups, stop loss, take profits and mentoring services, FX signals,...
Tencent has also sped up its venture into the insurance industry. In 2016, Tencent invested in Waterdrop Inc, which turned out to be China's first Insurtech stock (WDH:NYSE), as one of the angel investors. In 2017, Tencent also received the admission ticket, which is an insurance license for its Weimin Insurance Agency Co., Ltd or WeSure issued by CBIRC. WeSure...
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...
China'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...
TICKER CODE: 700 Company Name: Tencent Holdings Ltd Industry: Communication Services | Internet Content & Information Position Proposed: SELL Technical Analysis 1. Falling Wedge Pattern (Potentially forming) 2. Large Head & Shoulders (Potentially forming) 3. Fibonacci Retracement at 0.786 is at key market structure 4. Fibonacci Expansion Safe Take Profit Level...
Hello dear readers, In the last TENCENT Music analysis , I also talked about the reasons for the massive sell-off in Tencent and then created a trading plan. Now the price is in the buy zone and I will build a long position. The reasons are: - The sell-off was triggered by a Blackswan event. - The price is at a strong cross support of golden pocket, trend...