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...
Interesting move initiated, the price is back on the demand zone which took the liquidity on the left side and initiated a huge break of structure and bullish movement, we can see that the price retraced in a structured way reacted on the zone with an internal break of structure upside which is for me the sign of a bullish trend initiation targeting 416.
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,...
After falling from the peak at 416 on Jan 2023 to a low of 260, it has since recovered by more than 10%. We can see the price level has broke out of the descending wedge and an important support at 295.80 must hold else it will falls back into the channel.
I will be monitoring closely before adding more.....
Please DYODD
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...
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...
Despite its dominance as a payment gateway with a monopolistic role in China, global leader in video games and many other businesses, the one thing that it cannot compete against is the strict government policies imposed by the Chinese government.
It has fallen more than 60% from its peak 4 years ago at 700 and thereafter it has been on a downhill ever since....
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...
All of that yellow shows gaps in the chart.
How does something like that happen? Is this manipulation? A rigged system?
Where does the money go or come from?
Cheers
The obsession of catching the bottom and being proven right is so strong that many would fall for it willingly , taking an unknown risk with no idea if the down trend has reversed.
Looking at the weekly chart, if Oct 2022 is the bottom, then the current downtrend should be rebounding soon and not continue to fall next week/year in 2024. If I am right and it does...
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.
Today's news, "China to tighten controls on video gaming industry...."
Traders & investors's overreaction? Or the charts already say so?
I'm purely chartist, base on charts itself, I may sell too.
>> Price keep create LH.
>> Unable to break Parallel Channel
>> Market structure shifted.
Some traders / investors might look for opportunity. Are you one of...
Read the latest article here
As a shareholder , I am not too happy. But as a parent who has two kids pretty glued to the phones , this might be the answer to help them stay away from their phones and do something else. To be fair, I am not born in the internet or mobile phone era where information are readily available online. Naturally, kids will resort to...
$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...
We see from weekly chart that it has multiple support at current price of 315. For those who believes in the potential of this company can start to accumulate/buy now or wait for it to clear the resistance at 388.20.
Let's see how it goes ....
1. Clear all drawings and indicators.
2. A horizontal resistance level, price reversed at here to form a false break (React Don't Predict).
3. Add BandofMidas from indicators. Use Midas factor of 9. (suitable for this chart)
4. Price fall into Midas zone and reversed. Midas signal came out today morning on 22Sep2023.
5. Midas trend line still in white. Hold...
