HTCD trade ideas
Education: Tencent – Only Look to Long for The Time BeingLooking at Tencent’s Chart, it had broken out of an inverse head and shoulders formation pattern with relative ease. Price action is now hovering above both the 50 and 200EMA – a healthy signal that for the time being, its on an uptrend momentum. PA was also supported by strong buyers that emerged from its previous consolidation region during July 2017
A good support area will be at 310, while a big resistance region will be at 378.
Stay cautiously bullish.
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TENCENT700/1D, HKEX - SWING positionThe first pull back before H&S pattern on the 21st of sep' rebounded back down on the RSI 50 level (and 0.382 FIbo level) and went straight to the RSI oversold level to show the first shoulder on the graph. Then drew the head as the RSI was showing divergence. Candles went back up to 0.236 FIbo level (H&S neck level) before drawing the last shoulder. The last prices broke through two important levels :
- RSI 50
- H&S Neck level (0.236 Fibo)
You can also take a look at Ichimoku clouds. You will see a lot of bullish indications.
Buy the current price (a bit risky)
TP : 385 (0.618 Fibo)
SL: 280
Take a long position with a R/R ratio 3:1
or wait for the price to pass the 0.382 Fibo level.
TP: 385
Take a long position with a R/R ratio 2:1
TENCENT - ready to move UPTENCENT is a solid company that has been hit from the ongoing turbulence in the region.
The chart shows us that practically since January the stock gradually entered in a long 4th wave (down).
The projections of this move gave a target (black line) not far from the low of past Friday.
In addition Momentum shows that the stock is deeply oversold.
So, with solid Fundamentals, with Wave 4 almost over and with Momentum in deeply oversold area, I see an opportunity in the upcoming 5th Wave.
700: Sort opportunityAn intraday high potential, Back Tested Sort Analysis.
We ll try to enter into the correction of the uptrend movement.
DETAILS ON THE CHART
NOTE: Entry range area above the entry point, is calculated upon 80% of the recorded pullback back tested past performances
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.
Tencent's Deep Correction Will End At $250 ??From a technical and Fibonacci angle, we should see a halt of the recent deep correction near $250 (i.e. 0.764% correction of the 2017's bull run started from $180 to $475). The 2018's correction was widely expected and from the previous historical data of the two big corrections of Tencent, a 40%-50% drop from all-time high should attract bargain hunters to accumulate this tech giant at a low level. My personal view is that the first wave of correction had already ended and we are expecting a bounce back to the huge gap left behind on the end of August ($343-$355). Let's see how Tecent can recover strongly from the abyss...
Tencent rebound before last fallIn my opinion we are currently in a wave 4 of the elliot wave theory, i'm expecting further downturn before see gains.
Also due to trade war possible downturn are still possible. In the long run however the company is solid and i think that further stock price increase is more than likely.
At the end on wave 5 will initiate long with this company.
TECENT: Where Will It Go?The TECENT declined nearly half of its market value from the beginning of this year. Many investors are anxious about its future.
Where will it go next?
Now there is an opportunity for traders to buy.
1. A good demand zone is at 260-270 levels.
2. The 2.618EXT of the leg in the top is at 272.
So it is good to buy at 260-270.
SL: below 260
TP1:333
TP2:400
short 0800.hk sloppy moveentered into a short position on 0700.hk on 27-sep based on multiple ideas convergence: stoch 5-3-3 over bought came down while broke through 20d EMR and stoch 5-3-3- 0.382 and also most important conv with HSI weakness as tech sector has been the weakest sector for 2 weeks already. a bit sloppy as I didn't have much time to follow closely due to work, and it was not the best entry timing on the day.
Tencent: short-term short, long-term longTencent: short-term short, long-term long
Based on what have I observed for the past few months, tencent's price is on a short-term bearish trend caused both by its under-expected earning on online games, China's regulation on online game industry overall, as well as the elephant in the room, trade war.
Short term wise, RSI negative reversals are coming on by on. Currently the price may go down to 291, which is the 0.618 retracement level since December, 2016, a two year term fibonacci retracement. But the RSI reversal indicates that it may go even lower to 274.
But long term speaking, AD Line is trending upwards even the price keep going lower since March 2018, for the past 5 months. That is to say, 274-291 could be a crucial range for us to predict what may happen next.
