$TCEHY / TENCENT has bottomed- Inverse H&S
- High volume
- Support from 200 WMA
- Support from trend line
- Oversold RSI
What else bottoming out needs? Nothing IMO.
TCTZF trade ideas
Future for TencentFirst question is what is your holding period?
If you look to invest for more than 6 months to a year, then good to build your first position in Tencent at current price and we might see 7xx in future (unknown timeline) .
However, if you are trading for quick profit, the current price will most probably ranging within $100 before any significant move can happen as market starts to consolidate. Meanwhile, you could spend your fund on other active stock to make money instead of sitting in tencent till the chart has started to show sign of reversal.
Not recommend to trade, but recommend for hold for long term at current price.
Tencent Responds as CCTV Exposes the Account Renting ProblemSo far, the gaming giant has sued or sent letters to more than 20 account trading platforms and several e-commerce platforms, demanding them to stop all relevant services.
The rates for account renting services for Honor of Kings – which usually cost CNY 33 per two hours – have been emerging on the Internet and, in response, Tencent Game, the gaming sector under the tech giant Tencent – developer of the MOBA game Honor of Kings – claimed that account leasing and selling seriously damaged the game's real name system and protection mechanism for minors. By far, having sued or sent out letters to more than 20 platforms, it demanded a full stop of all relevant services.
On August 30, 2021, the National Press and Publication Administration issued a 'notice' to prevent minors from falling addicted to online games. The 'notice' states that all online gaming enterprises can provide minors, on Friday, Saturday, Sunday and legal holidays only, with one-hour services max (specifically from 20:00 to 21:00) and offering online gaming services to minors in any form at any other time is prohibited.
Yet, on the evening of September 6, CCTV, the state-controlled outlet, outlined in its news broadcast how a grey industrial chain has emerged on the Internet that rents and sells game accounts, which enables the minors to play online games without restrictions. On the account renting platforms, users can trade accounts of a variety of popular games including Honor of Kings and PUBG.
So far, the owner of Honor of Kings has called on relevant departments to issue corresponding laws and regulations to strictly control the account leasing and selling problem.
Despite the issuing of the 'notice', according to surveys, the policy did not have a material impact on the revenue of gaming companies. Previously, Tencent disclosed in the 2021 interim report that players under 16 accounted for only 2.6% of the total game revenue, of which only 0.3% came from players under 12.
Analysts from Jefferies Group predicted that about 5% of Tencent's game revenue came from minors under the age of 18. In other words, if the game business accounts for about 60% of the gaming tycoon's total revenue, the new regulation's impact would be barely 3%.
JICPT| Tencent completed retest, ready to challenge gap! Hello everyone. It's a good day for tech bullish buyers, especially Tencent fans.
On the daily chart, I found the retest has been completed with a bullish leg-out candle formed today. Looking above, the next challenge is the gap from HKD513 to HKD528. Also, there is a downtrend line which may weigh on it.
Looking forward, the valuation is attractive and I'm bullish on the stock. Though, it could have a second fall to the level of HKD479 before coming back again.
What's your opinion? Give me a like if you're with me.
Tencent Stock Hello Traders,
After China's stranglehold on video games HKEX:700 was one of the companies that suffered the most.
If you look at the weekly calendar it seems to have made support in this area.
Post your idea/analysis below for discussion.
Thank you all for your support.
For more accurate setups, stop loss, take profits and mentoring services, FX signals, Crypto, Indices and Stocks PM me.
[Analysis] Tencent (700)(HK)Even after a 47% retracement from its high, Tencent's uptrend is still intact.
Currently, there is a support/resistance formed at 410 and 510 respectively. We do see a huge volume coming in within this price range yet, the price is still holding. This suggests that there is a huge demand coming in to soak the selling. As long as the price remains above the support level at 410, we can safely say demand is coming in and the chances for price rebounding is high.
However, before the price proceeds higher, there will most likely be a prolonged consolidation period to exhaust the sellers. Hence, if you plan to buy in during this period, ensure that you have holding power. Or...
You can wait for the consolidation to happens and then buy the breakout above 510.
Show price drop below 410, we are in a deep bear territory and we should not be holding any longer.
TENCENT - First hurdle - Following the previous post in the link below , price is back at another "key" level
- Down sloping 50 day moving average
- Down Trendline
- Below the 200 day moving average
We could flag here to reset for the next push up or fade back down to earlier support zone. Im still bullish on the long term but am cautiously watching each level of resistance
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
JICPT| Tencent bouncing from previous low with better earning!Hello everyone. The reported earning today is way better than the estimated number. However, I noted a gap down at the opening with previous low sitting around HKD 421.
Basically, the continuation of the crackdown on the tech companies worried investors. Today's upper wick candle suggested selling pressure.
The nearest support level is previous low of HKD 421. What's the next key support level if 421 is violated?
On the Monthly chart, HKD 394 is identified as a confluence supporting level with flip, mid-term MA and uptrend line .
Don't use up all your bullets if price drops to the level. We all know that emotion may push the price further down. But, in my opinion, HKD 394 is really a reasonable & cheap price for Tencent. I'd like to hold it for 2-3 years.
What do you think?
Give me a like if you're with me.
History repeat itself?700, Last time Largest Share holder sold their share around mid - Mar, then, the sold off ended the same day HSI future final day. Oct 30, 2018
from the top of sold date, it drops 47.14%
This time, the same share holder sold their share beginning of Apr with high at 656.40, if we cut it by 47.14% and make the low date of HSI oct final settlement day, then. we should see
Price: 656.40-309.4 = 347
Date: OCT 28, 2021
