Tencent (700 HK): Price Surged, Time to Look at Negative Industry Data

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Chart based progressive global trading strategies, Chart Partners

Thomas Schroeder

Chart based progressive global trading strategies

Chart Partners

Chart Partners objective is to discover medium-term cycle turns and profit opportunities before they unfold, within structural trends while preserving capital with clear degrees of risk. We have real return ideas. 

Markets are dynamic and trading systems must reflect this. It is crucial to determine underlying correlations and lead-lag relationships within global markets and the impact on linked instruments. Our weekly Chartonics product gives you short-term trading strategies that can be applied within the medium and longer term macro trends that are mapped out in our strategy updates. 

Our methodology fuses global market variables and isolates drivers in trends. We specialize in FX, index trade in NY and Asia with a focus on Asian stocks. 

Technical Analysis

<a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent Holdings (700 HK)</a> still needs more time to drift into our ideal buy zone. Correction is expected to see a dip and rally fade to set up a fresh long. Our recent long below 540 and reduce call near 750 sets the stage for a fresh add or long entry point.The current hard impulse lower will need a bounce and fade to form a choppier and well behaved pullback cycle.External forces (rising yields) still shows risk of rattling equities in coming weeks that will provide a good entry point for Tencent.

Tencent Holdings (700 HK) still needs more time to drift into our ideal buy zone. Correction is expected to see a dip and rally fade to set up a fresh long. Our recent long below 540 and reduce call near 750 sets the stage for a fresh add or long entry point.The current hard impulse lower will need a bounce and fade to form a choppier and well behaved pullback cycle.External forces (rising yields) still shows risk of rattling equities in coming weeks that will provide a good entry point for Tencent.

Tencent

Tencent Drift into Our Fresh Long Zone