What catalyst can drives Tencent shares ?
Updated
Nov 16 2022 will be its Q3 earning report. You can choose to buy before or after depending on how comfortable you are with this company.
The China Tech stocks have been badly bashed due to the regulation clamp down. But, the business model remains strong. Let's be patient as the 20th CPC National Congress will end this week and we can expect to hear some positive news about where they are going to put their focus on moving forward.
I believe the digital economy has a lot of potential in China and more room to grow given the support of the Chinese government.
Please DYODD.
The China Tech stocks have been badly bashed due to the regulation clamp down. But, the business model remains strong. Let's be patient as the 20th CPC National Congress will end this week and we can expect to hear some positive news about where they are going to put their focus on moving forward.
I believe the digital economy has a lot of potential in China and more room to grow given the support of the Chinese government.
Please DYODD.
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added some at around 224 price level.Note
3 solid weeks of bullish run. Today is its corporate earnings and I think it should deliver a good sets of resultsNote
This can be your last chance to buy into this great company. I believe the tech regulations are behind us and going forward, with the central government slowly relaxing the rules on Covid 19, the overall mood will improve and consumers will be encouraged to spend more again........Note
cnbc.com/2022/12/13/blizzard-seeks-new-partners-for-world-of-warcraft-in-china.htmlCould Tencent be interested in this deal ?
Note
scmp.com/tech/policy/article/3207167/china-gives-out-licence-approvals-88-video-games-tencent-netease-and-mihoyo-among-studios-list?module=more_top_stories_int&pgtype=homepageThis could be the catalyst to drive its shares price higher . Buy on dips
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hope the price will come down now that there is a resistance at 391.80 level....Note
awaiting for it to break out and closed above 390.20 before accumulatingNote
Lay offs have now spread from US tech firms to China .........Note
time to accumulate , school holidays starting soon in China and many parents will likely bring their families out , be it in China or outside China. They will use the payment method by Tencents that has fabulous support and global reach.Note
it will retest the resistance at 402.60 again shortly this or next week and once it breaks, it should rally higher from this point onwards...Note
unfortunately, it fails to rally higher and is now revisiting the support at 329 level. If this breaks through, we could see the price level falls further to 300.
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