Drama on the Stock Exchange 2.0 - TENCENT MUSIC Buy Now!
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 lines and horizontal support levels.
- Volume is falling, the MACD shows a weakening of the downward trend.
- Of course, everything could turn out quite differently here. But all in all, I think that the probability of a nice long trade looks quite good when all factors are taken into account.
Now we have to be patient.
As always, it is "do your own research" - I am not an investment advisor and this analysis only reflects my personal opinion and is not a call for individual action!
If you want to support my work I would be happy about a Like & Follow 🙏
Many greetings & success!
Chartdigger
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 lines and horizontal support levels.
- Volume is falling, the MACD shows a weakening of the downward trend.
- Of course, everything could turn out quite differently here. But all in all, I think that the probability of a nice long trade looks quite good when all factors are taken into account.
Now we have to be patient.
As always, it is "do your own research" - I am not an investment advisor and this analysis only reflects my personal opinion and is not a call for individual action!
If you want to support my work I would be happy about a Like & Follow 🙏
Many greetings & success!
Chartdigger
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.