Stormy weather for Tencent Read latest article here
From Alibaba hefty penalty, we are now seeing the Chinese government going after Tencent.
We could possibly see the 600 support for Tencent to breakdown and if it does, then we expect
the next level of support to be the 500 level. That would really be an attractive offer to accumulate more of this shares.
It's subsidiary, Tencent Music Entertainment has not been spared as well........plunging from a peak of 30 to current 17.80, almost 50% fall and the selling looks not quite done.
I believe this is a short term correction and we will soon this company recover soon. Be patient for now as it roughs it through the dark valley....
$2660 Zengame Tech (HKSE)On 26/4 price broke through symmetrical triangle in upward trend (continuation). Volume on break was 2.4x of 10 day MA and closing price was 6% away from trend line. Waited one day as break was right near apex and price tested the 10 day EMA, which held as support and signal to enter. Bought @ 1.19 (next support level and below the cradle). Will look to add on if price breaks 1.44. TP 1 = 1.89 (52 week high) TP 2 = 2.08 (triangle distance)
Flat top in makingThe candles are moving according to the pattern of Flat Top.
Referring to Fib Retracement of last top, clearly seen that Yellow hidden line is one of the Support around 26.75, eventually the Flat top to be broken also falls around 26.75.
Let see if it can break, and surge to 30.00.
Tencent continues consolidation before rallying to the upside! Hello everyone. Recently, I just visited the HQ of Tencent in Shenzhen. The business trip was fantastic! I never thought Tencent got so many powerful apps pending on the pipeline. The visual tour, AR as well as so many others really got my attention. I'm confident that those products will become the pillar of its revenue in the future.
Now, let's go to the technical side. Obviously, the price is consolidating around the narrow range. In my opinion, the confluence zone is just below so this isn't much room to the downside.
In addition, I got identified a firm uptrend line which should serve as a support line with zone. So, buy low and hold strategy should be paid off in the coming months.
Buy zone: 606-587
Trading target: 650, 693
Invest target: around previous high 750.
AAC Tech (2018 HK) [1-3 weeks view]This is an analysis for a client.
Price holding above moving average
Stochastic is testing support where price bounced in the past.
With price holding above ascending trendline support, we can expect a push up.
Please do your own due diligence.
Losses can happen so please understand your risks and investment objectives first.
WAITWait until the support is broken (SELL) or resistance is broken (BUY) otherwise wait till 18 november where
ALL IN ON PETROCHINA?Rounding double bottom with divine crossover? Price is well supported settling at the 50ema. Accumulating buy volume for the past year. Might shoot up anytime soon. Patience.
Trading Idea - Qingling Motors Buy - HIGH SPECULATIVE PENNYSTOCK!
Entry: 1.72 HKD
Target: 1.90 HKD
Stop: 1.65 HKD
1.) Strong resistance avead! Around 1.90 HKD
2.) Rejection at the 0.5 Fibonacci Retracement indicates a trend continuation
3.) if we break the resistance level, 2.15 HKD possible!
4.) If you trade this stock on european exchanges, take care of the spread!!!!
$815 CHI Silver (815 HKSE)22/4 - symmetrical triangle broke with 2.5x of avg. volume. 10K shares long with a SL just below the cradle at 0.88. tp1 - 1.35 (52 week high), tp 2 - 1.49 (distance from top to bottom of pattern + breakout price).
Nagacorp (3918 HKSE)Descending triangle has formed as part of larger down trend/symmetrical triangle going back to OCT20. Base was broken on 20/4 and the shorter term support was breached on 21/4 with backtest without volume on 22/4. Short at ~8.68 with SL at 8.95 (4c above the 10 EMA and above the base of descending triangle). Start with half size and when further breakdown on volume add remainder.
AAC Tech [1-3 weeks view]This analysis is for a client
Counter looks good for going long, in line with long term monthly trend as well.
Please do your own due diligence.
Losses can happen so please understand your risks and investment objectives first.
Tencent 700HK [1-3 weeks view]This is an analysis for a client.
Tencent has just broken out of a triangle pattern to the downside.
Please do your own due diligence.
Losses can happen so please understand your risks and investment objectives first.
CNOOC is approaching support, potential bounce Prices are approaching support where we could see a bounce above this level.
Geely Auto is facing bearish pressurePrices are facing bearish pressure from our resistance in line with our fibonacci confluence levels where we could see a further drop below this level. Ichimoku cloud are showing signs of bearish pressure as well.
PetroChina is approaching support, potential bounce Prices are approaching our ascending trend line where we could see a bounce above this level.
Keep this stock in your watchlist !I am keen to acquire this stock as I expect the domestic tourism business in China to improve further and is a matter of time before the outbound travel commence. Nobody can travel without making a booking and you need a platform. Trip.com is well positioned in this business !
At the moment, chart is tough to analyse so I will wait a while more and yes, IPO stock is speculative but this is not a new listing per se as it is already listed in the Nasdaq market.
