0700 trade ideas
WE-BUY? - IN PRICE DISCOVERY MODEWeChat is an amazing app. Hands down it has almost everything one needs in order to get by daily living, including social interactions, payments, insurance and investments. Having lived in China for many years as a foreigner, I have seen the likes of social media platforms rise and fall.
Founded by one of the THREE BIG MAs in China, Wechat is a behemoth in the IT world. Their personal touch and attention to the needs of the masses separate them from Jack Ma's Alibaba and Alipay. These days, I DO NOT see anyone NOT USING Wechat in China. Their integration of Wechat moments, simple messaging system and idiot proof money transfer/payment system rolled into one makes Facebook and whatsapp look prehistoric.
Perhaps there will be a correction in the near term, but for the EW analyst or even those who use fractal and chart patterns, it is hard to ignose this one. Verdict - We Buy.
Who would have thought playing games can make you rich ?I am talking about the professionals , of course. 20-30 years ago, gaming was hardly in fashion, less to talks as a trend. Now, the youngsters all want to get involved, chasing the gamer's dream.
And that of course make the gaming companies like Tencent , Actvision Blizzard, etc produce more games for them.
Will be adding long later. Note, the temporary ceiling at 472 level is near so the risk reward for late entrants might not be as attractive. There might be a correction once this level is reached and hopefully a greater discount can be given .
Tencent Holdings Ltd (700 - HK) - updated EW countTencent Holdings Ltd (700 - HK) is in 3rd subwave of 3rd wave, which is either about to end or it may further extend, but will know as correction proceeds. If the 3rd subwave ended then 4th subwave correction should not entered in to the territory of subwave 1. It is exactly moving up as expected in previous updates. In weekly time frame it is a very strong stock of HSI and in the 3rd wave of 5th wave impulse, which is further subdividing as extended wave.
Tencent Holdings Ltd (700 - HK) - ABC wave patternTencent Holdings Ltd (700 - HK) is in ABC zigzag wave pattern and moving up in C wave up. It is in 1st wave of C, which is about to end soon and 2nd will correct it down. Watch the invalidation level closely. In weekly time frame it is a very strong stock of HSI and in the 3rd wave of 5th wave impulse, which is further subdividing as extended wave.
