Tencent swing tradeMy thoughts on this are pretty simple. It's a strong, growing company that's pulled back with the market, and will rebound as it always has.
TENCENT19 trade ideas
Tencent – the might of ChinaThis stock is the most exotic thing that in my opinion has been even shown on US TV.
Tencent is the massive technology conglomerate of China. I will just list some random things next:
• Most used app
• App has everything
• Government involvement
• Shady stuff
• Owner suddenly selling all
• Big holdings in other companies worlwide
The stock is not listed in the US. You can get it OTC or in Hong Kong. Honk Kong has a minimum 100 share amount, so… OTC..
No real way to leverage it.
However, for the last couple of years it has perfectly surged in a dominant channel up pattern. (blue one)
In that pattern it has had various medium term patterns with the same angle. (purple lines)
Moreover, all of the retracement have been similar like the one, which has been charted at the moment. (black lines)
Although, this time I am looking at the region near the $55.00 mark. The stock is both going to linger there and then go down to the lone support of the dominant pattern, which is unlikely, in my opinion. It is unlikely because a lone trend should be too weak to stop the decline.
Instead it seems more probable that the stock will trade sideways just above the just mentioned level and then reach the dominant support.
I am sticking to such forecast because the Fibos on this stock look stronger than the smaller scale trends.
Yours sincerely,
Y
TECENT made an all-time high today. What's next? Tecent (700) is a major component stock in Hang Seng Index (HSI). The index made another new high today and it's interesting to note that Tecent has equally made an all-time high today at $449 since its low at $365.20 on 6 December 2017.
Investors like you may be wondering how high potentially this stock can go. From a technical outlook, this stock has an upward bias. Based on our forecast, if the bullish momentum continues, we could potentially see this stock testing $460 as its first target. If the stock continues its bullish move, then we could potentially see the next target be $520. It may sound crazy honestly but this is purely based on our forecasting methodology. So we are happy to prepare a forecasting report on this stock and we will monitor its move closely.
Good trading
NinjaSingapore
17 Jan 2018
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Tencent Holdings UptrendTCEHY fell and coming close to any uptrend line at 48.50. RSI has remained flush at 51% before and held. Support come in at 44.88 S2. News that Tencent will buy 10% of Spotify if and when it goes on the market.
A correction is comingDivergence indicate that a correction is coming. I will be looking at a good place to pick it up.
Pullback trade @ TencentIf you look at this stock, especially in the monthly chart, you will see it is in an tremendous uptrend. And we just hat a little pullback.
So if this pullback is over now, I will enter a position. I will go long and follow the trend.
Only thing is, my personal entry triggers aren't really reached.
I want the EMA 200 to support the trend (done)
I want the stochastic to be at the bottom (incomplete)
I want the OBV to point in the direction of the trend (well.. that could be better)
I want a good, stable trend to follow (complete)
So i will keep an eye on this stock, I guess by Wednesday we should have our entry.
Tencent refuses to correct, Short term BullishThis stock refuses to correct even to the 10 day MA strong buying power from the mainlanders perhaps
Market leader in China with the billion $ market with its friend circle feature and almost everyone in china depends on it
Bull call + short Put or bull put if you only do spreads
short put whenever it correct
Tencent strong bullishTENCENT"]Fibo 61.8 retracement was strong support line and upper median line has bounced to energy point. Tencent will go to 315
TENCENT - Crazy bull trend it seems there are only a couple of minor corrections starting in Jan. Super strong momentum even though HSI corrects. It's an opportunity to LONG whenever it corrects.
Can you leap call/a simple calendar spread call to trade 700.
Or long the stock.
TENCENT has a date with 22I have a feeling Tencent will break this 4+ year trendline and retest the 22 area. Not a strong feeling.
