In today’s briefing:
- Tencent: Positive Technical Analysis Signals
Tencent: Positive Technical Analysis Signals
- Despite near-term concerns, Tencent (700 HK) remains firmly amid an earnings upgrade cycle.
- With Tencent touching on being oversold, near-term momentum indicators are displaying bullish signals.
- Tencent currently trades more than one standard deviation below its rolling 5-year historic average PE ratio, and at its lowest level since listing nearly 20 years ago.
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