Trading Tencent: Medium Target 1 & 2 Exceeded; Now Consolidating For Potential Continuation. Long Term Target = HK$611

Lester Davids
Jul 18
1 min read

Research Notes For 21 to 25 July > https://www.unum.capital/post/r2125july

Trade Local & Global Financial Markets with Unum Capital.

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Long Term Target = HK$611

Previous Post: Year-to-date, risk assets OUTSIDE of the United States have started to catch a bid, with Chinese stocks being some of leading performers. This interest from global markets may be supportive of our view around Tencent where the target of HK$611 was measured off the weekly chart, having been recognized by the development of inverse head and shoulder technical formation.

(It's taken 18 months for the move to get going, however, we could finally be getting going...). Thus far, the share has advanced from HK$354 to HK$474.

Now +33%.