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TENCENT HOLDINGS 2nd Bull Target Exceeded + Pullback To Breakout Level. Now In Consolidation Phase

  • Writer: Lester Davids
    Lester Davids
  • Dec 1, 2024
  • 2 min read

Monday 02 December 2024 (Time: Pre-Market Asian Session / Sunday South African Time: 21h30)

  • Now, also developing a bull flag structure that would be triggered above the downward trend line.


Precious Posts:

Thursday, 03 October 2024

Time Published: 06h50


  • Tencent: The 2nd target of HK$435 has been exceeded.




Previous Post: Sunday, 29 September 2024

Time: Published: 18h34


Last week Sunday evening I discussed possible breakouts on Naspers and Prosus.

Over the week,

  • Naspers is higher by 14.7%

  • Prosus is higher by 14.89%

  • Well done to clients who may have participated in the move.

Previous Posts


Thursday, 26 September 2024

Time Published: Pre-Market Asian Session (22h08)


  • Stellar upside moves over the ultra short term.

  • Sure, it can trade higher, but the ultra short term reward-to-risk from an entry perspective is becoming unappealing.

  • Before the Asian session commences, here's what the price action data for NPN & PRX says:




Previous Post: Wednesday, 25 September 2024.

Time Published: 14h46


  • Tencent: 1st target reached at HK$416.

  • Naspers & Prosus - Massive Breakouts as per my notes on Sunday evening.

  • Chinese Stimulus supportive of the strong price action.





Previous Post: Monday 23 September 2024 (Pre-Market Asian Session i.e. Sunday evening)


Tencent Holdings

  • Improving candle structure - breakout pending at HK$420.


Naspers (Weekly Chart)

  • Very positive candle structure.

  • Multi-year consolidation looks ready to break out over the medium term.


Prosus (Weekly Chart)

  • Very positive candle structure.

  • Multi-year consolidation looks ready to break out over the medium term.

  • Potential target is the previous highs at R900.




(Previous Post: 09 July)

This is an update on Hong Kong-listed, which is the major holding of JSE-listed Naspers/Prosus. A medium/long term review was completed in August 2023, which can be accessed here: https://www.unum.capital/post/tencent-holdings-700-tuesday-01-august-2023


As of 09 July 2024, the share retains a healthy technical structure, having emerged from a channel formation. For just over 2 months, the share has been in a consolidation phase, having developed a flat-bottom triangle formation where a breach of the upper boundary would trigger a buy/long continuation and where a conservative target is HK$416, followed by HK$435. Also note, the share remains above it's rising 21-week exponential moving average, which is a positive technical position.


(Chart as of 07h16 South African Time)



Lester Davids

Analyst: unum Capital

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