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Tencent... is it good to bottom pick now?My Humble Opinion on Tencent Currently, the price is in the consolidation zone. Note that the "consolidation" process is a neutral term. It does not have a bullish or bearish bias. It just means that there are BOTH buyers and sellers interested within that narrow range. Hence there is a lot of transactions for a long period. Over a period of time, either the sellers will run out of interest or the buyers will. When this happens, the price will move accordingly. Given that the primary uptrend is still intact, we can safely assume a small bullish bias on this consolidation. This does not mean that price will be 100% supported. It just means that the chances of price going up are slightly higher. Should the price falls below 400 into the Bear Territory, traders will need to get the hell out. Value Investors might need to relook at the fundamentals before blindly averaging down. If the price heads up after the consolidation, we will expect some form of selling pressure at 525 to 580. So do not expect a sharp recovery. If I am looking to trade this, I will not touch Tencent until the price can recover above 600 (Bull Territory) On the other hand, Value Investors may continue to pick up these stocks during this consolidation phase IF this company is aligned with your investment goals (certainly not aligned with mine) Personal Verdict: Stay the hell away!
HKEX:700
by NimbusCapital
1
Xiaomi bottomed - We are heading towards new All-time highs!Hey Investor, please see my current idea on the Xiaomi stock, where my count suggests a possible bottom for a trend reversal in order to make new highs. This is calculated based on my Elliot Waves Count by the fact, that wave C has the same length as wave a. I have checked the inner structure of wave C in order to check the inner structure of this wave. Based on this knowledge I am very confident that we might have our bottom here. Let me know what you think. This is no financial advice, just my technical view. RT
HKEX:1810
by RT_Trading_
1
1921 Review of chart and trading opportunities.We like tight consolidations. The more frustrated traders get, the more potential there can be. If you have patience. This is just a review for my own education, and to pay attention to the clues staring me in the face. I didn’t get involved with any trades. 1) Nearly a two month consolidation with two significant ultra-high volume days, on down bars, but price didn’t follow through. There are buyers here however. Even though we see the buyers are here, jumping in to buy with them would have been frustrating as price continued to chop around for another month. 2) We see bullish volume appear but the bar closes in middle of the range. A handy first clue, but not an encouraging result. The break out bar the following day provides the key. The buyers have waited & tried to get their demand filled, but they didn’t get enough, now they show there hand and start to buy through the consolidation, and closes above the consolidation. Buy at close, s/l at low of the bar. 3) Alternate entries, either a Ross Hook for an early entry, with 5 days chop, or wait for the flag to form, and buy. The close of the break out of the flag isn’t the strongest. A problem with either entry is a previous high in the back ground. 4) Previous high rejected & broken, provides another Ross Hook opportunity. 5) A couple more Ross Hooks, but can you take them so far & late in the move? They did pay off however. Maybe the first one got stopped, but 2nd one is good, especially the tail. Would you have taken the 2nd, if stopped on the first? Would you think it's too extended? 6) S/L and target management. Fixed targets would work, or manage stops via structure/pivots, if you think it has legs. The prior high would be a logical 1st profit target. Could re-enter if it breaks?
HKEX:1921Long
by shane93676
TamJai: Another Haidilao + Nongfu Spring in HK stock sector- Why it is like Haidilao: Business model advantages: Cost: They don't need a massive change to their receipts. Expansion: Simple value chain make its expansion becomes very easy. - Unique favor from Hong Kong: Most locals craves to eat TamJai products after they're leaving the city for a while. This create an opportunity for them to expand their business after covid period. - Why it is like Nongfu spring: Strong players in play: Highly centralized by a Japanese firm and they are also keep holding 70%+ of their position tight. A lot of opportunities for this brand to expand globlly. Meanwhile the PE ratio is not that high, comparing with their parent company toridoll (3397.T).
HKEX:2217Long
by BillionaireLau