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TENCENT Peak Formed YesterdayRecent 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 down coming up. While there are no sign of supporting at the bottom in the past few months of price down. We might see downtrend to continue. What is Callable Bull/Bear Contract? Is a structured product like warrants & options. It is similar to Daily Leverage Certificates (DLC) listed in SGX. It provides leverage on underlying securities while limiting the risk to the trade value. At the same time it provides unlimited returns potential at a lower price per units. However, do take note of the "knock-out" feature when the underlying securities hits the contract strike price. Contract suspend & not able to "revive" after, the losses are limited to the amount you trade on the contract. About our analysis : Utilizing the dynamic insights from a 5-minute chart. By closely examining this timeframe, we dissect the intricate volume and price transactions of significant market players. Our aim is to identify short-term support and resistance levels, enabling informed trading decisions. Through this meticulous analysis, we decipher price patterns and trends, providing valuable guidance for traders navigating the fast-paced realm of stock trading. ‌
HKEX:700Short
by ROUNDnSURGE89
Is Tencent really worth pennies now ?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. Business wise, it is fundamentally strong and economic moat and is constantly innovating itself in the AI space, cloud computing and strategic alliances. I shall await patiently at 200 - 246 price level to see if there is a reversal pattern for a rebound. No hurry, cheap can get cheaper now......so be cool and be patient.......if you are in for a long haul else go find other markets
HKEX:700
by dchua1969
Anta Sports: Final Descent 🛬Anta Sports recently continued to rise after an impulsive downward spike narrowly missed the magenta Target Zone between HK$58.95 and HK$33.60. Thus, it is quite possible that this downward spike has already completed the low of the green wave (2) and that the stock is now marching higher. However, we are not convinced that this is the case, so we believe that the stock will soon pull back, drop below the support level of HK$67.85, and then run into our magenta Target Zone. Once this has been explored, we expect the wave (1) in magenta to lead to strong rallies above the resistance at HK$125.30.
HKEX:2020Long
by MarketIntel
2282 - 13 months HEAD & SHOULDERS══════════════════════════════ Since 2014, my markets approach is to spot trading opportunities based solely on the development of CLASSICAL CHART PATTERNS 🤝Let’s learn and grow together 🤝 ══════════════════════════════ Hello Traders ✌ After a careful consideration I came to the conclusion that: - it is crucial to be quick in alerting you with all the opportunities I spot and often I don't post a good pattern because I don't have the opportunity to write down a proper didactical comment; - since my parameters to identify a Classical Pattern and its scenario are very well defined, many of my comments were and would be redundant; - the information that I think is important is very simple and can easily be understood just by looking at charts; For these reasons and hoping to give you a better help, I decided to write comments only when something very specific or interesting shows up, otherwise all the information is shown on the chart. Thank you all for your support 🔎🔎🔎 ALWAYS REMEMBER "A pattern IS NOT a Pattern until the breakout is completed. Before that moment it is just a bunch of colorful candlesticks on a chart of your watchlist" ═════════════════════════════ ⚠ DISCLAIMER ⚠ The content is The Art Of Charting's personal opinion and it is posted purely for educational purpose and therefore it must not be taken as a direct or indirect investing recommendations or advices. Any action taken upon these information is at your own risk.
HKEX:2282Long
by TheArtOfCharting
Tencent: Turn around! 🔄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 HK$416.60. At this point, however, it should be noted once again that the (minimum) requirements for the wave (2) correction, which the stock has been dealing with for almost a year now, were met with the approach of the Zone - as a result, a direct breakout to the upside would be quite conceivable from a technical point of view. Until then, the Target Zone continues to offer the opportunity to position oneself on the long side.
HKEX:700Long
by MarketIntel
1
Meituan: Turning Point ⤴️Meituan's price is still trading at the lower end of the magenta Target Zone between HK$96.90 and HK$64. Our primary assumption remains that the stock is already working on the wave 1 rises in turquoise - and that it should soon leave the resistance at HK$103.50 well behind it. However, we must continue to weight the option with a 35% probability that the stock will still undercut our Target Zone in order to complete the correction only below the low of wave alt. (2) in green.
HKEX:3690Long
by MarketIntel
Alibaba - 80% drop from the peak, what are you doing about it ?Sell, sell , sell. Much like the panic and frustration in the China property market, from Tier 1 to Tier 3 and beyond, you read up about more and more news about home owners selling their properties 30-60% off their purchase price. The stock market is no better. Once , the darlings of China Tech industry, Alibaba is soon reaching its 80% lowest point from its peak at 300. Trillions of dollars have wiped out the entire market, consumers' confidence are ultra low, job market prospects are bleak as graduates continue not able to find jobs and thus have to force save whatever money that they have coming. Already a saving nation, we are witnessing a much higher savings rates than before as people are afraid and uncertain of the economy prospects , seeing no light at the end of the tunnel. Their main investment holdings - properties are now facing the biggest threat in their lifetime. 2024, it is highly likely that we see the government continue to lower interest rates and come up with even more attractive policies to attract first time and 2nd time buyers to snap up the properties as these developers are facing high debts that are too high to pay off without some form of government's assistance. The whole world is watching China now !!!! Revenue for Alibaba remain strong and Jack Ma has announced he will not be selling his shares for now and has recently written a memo to his staff to pull up the socks. However, many investors are very concerned about the China's goverments as their moves can wipe out their investment returns. Many have sold off their stocks, ETFs, etc and focus on US/Europe and Asia. I am not buying aggressively nor buying any new stocks from China/HK as yet but continue to watch closely. It could be another 3-6 months before we see a possible turnaround on the China's equities market. With the 30 days free visa that China has signed with several countries, this initiative should boost consumers to spend more, though still a far cry from pre Covid times. Be patient now.....do not let the negative news affect you too much
HKEX:9988
by dchua1969
5
Trend is your friend 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 fall to revisit the Oct low again, creating a double bottom , which I have neither the skills nor foresight but mere conjecture. So , do take this with a pinch of salt and DYODD. China stocks or ETF for that matter has been hated by many, both institutional and retail investors for some time now, losing trillions of dollars at the seemingly uninterested government of China. Really, the government is indeed doing something (read here and here Therefore, I believe the China government is very likely to cut interest rates and print money to stimulate the economy. This would boost corporate lendings and help the private sector to recover, to grow at a faster pace without resorting to cutting prices to beat competition. Trickle down to the retail investors, company expansion would help to improve job opportunities and stabilise the household income, thereby returning the much needed confidence to invest in the stock market again. Of course, this is my wishful thinking and it may or may not happen so we will have to wait and see. There is no rush to show hand just to catch the bottom but rather wait for the trend reversal to takes place and then participate in it. So what if you missed the bottom which in retrospect are known after the price action is shown in the chart weeks or months later. Patience remains a skill , one that is scientifically not taught in the investment world but rather a psychological state of mind. It can be trained and improved over times and different measures can be put in place. Depending on when you review the chart, one might have taken a long position in Dec 2022 when it breaks out from the bearish trend. They should be in break even stage now if prices do not continue to falter but nobody knows for sure. Like I said so often, market always give us a 2nd or 3rd opportunity. So for those who like this company, we just have to wait patiently for the price action to break out before deciding to go LONG. FOMO stays regardless we are in 2023 or 2024 or beyond. Where human prevails, the old adage of greed and fear will continue to drive the market. So be careful when you go overboard and pull back a little and let the hard data (charts) tell you if you are following or against the trend. WIshing everyone a Happy and Prosperous New Year.
HKEX:700
by dchua1969
1
Xiaomi: Still some Room! ⬆️Xiaomi stock has retreated somewhat in recent days. Nonetheless, we are sticking to our primary assumption that the price is likely to surpass the highs from November once again as part of the magenta wave (B) in order to form the high a good deal further north. Accordingly, we expect a return to this short-term bullish path in the near future. It is important to note, however, that the 33% probable alternative would already allow the high to be in place. We would favor this scenario in the event of significant declines. A far-reaching descent is also on the agenda in our primary scenario after the current (corrective) wave (B) has ended. The price should only finalize the big wave II in grey and thus the big correction below the support at HK$8.31.
HKEX:1810Long
by MarketIntel
NETEASE, down due to news or....?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 them? Personally won't catch red. Just left it drop until the rebounce signal appear. When the market moves where, and how, and if - these are all unknown. The only thing which we can control is our risk. Focus on risk management! Keep the long term vision. Disclaimer: Mentioned stocks are solely based on own opinions for education and/or discussion purpose only. There's no buy and/or sell recommendation. Trading involve financial risk on your own. The author shall not be responsible for any losses or lost profits resulting from investment decisions based on the use of the information contained herein.
HKEX:700
by DSELE99
What will the fate of Tencent be like ?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 their device as the primary resource to seek answers. Current price is supported at the 618 Fib Level but I am of the opinion that it will continue to falter for a while more. The next level of support is between 220 -230 where a small gap up happens on 10 Nov 2022. If we are lucky, we might see some support at 246 price level. The confidence in China stock market is getting dimmer by the days and weeks as I hear more stories of people dumping shares and calling China uninvestable. For now, I am not selling since it is already in the red and this is a government regulations that is beyond what the Company can do. The recent shares buyback program (read here here ) fails to move the market at all and now with this piece of bad news. From Feb 2023 at its peak of 415, it has fallen more than 35% and the pessimism in the stock market is not helping at all. What will the fate of Tencent be like ?
HKEX:700
by dchua1969