Tencent Holdings (HKSE: 0700): 1 September 2018, Saturday, 12.30am Singapore Time

Tencent Holdings (HKSE: 0700): 

1 September 2018, Saturday, 12.30am Singapore Time

(Click on Technical Chart above to Expand)

Attached is the technicals for Tencent Holding that is listed in Hong Kong (HKSE: 0700). The technical on Tencent is for shorting. Tencent Holding has a gap-down Support-Turned-Resistance Band in Red in the hourly chart. This red band is used as launchpad to batter the stock down. In the 4-hourly chart, using this falling-window's show of intention, it is clear that $320.00 will break down with the momentum. The momentum is impulsive, meaning $320.00 support will have more than 90% probability of breaking down fast. In the daily chart for Tencents, it is now showing an even more bearish formation -- bearish expanding triangle. The Tencent Holding target price projected down to satisfy a large structure Shoulder-Head-Shoulder to end the correction will be $264.60-$266.00.

Additional Note :

Note that at TP of $264.60-$266.60, The long term uptrend of Tencent Holdings is not derailed at all.

Refer to Attached Chart Below
(Taken from http://donovan-ang.blogspot.com/2018/08/tencent-holdings-hkse-00700-15-august.html )

Donovan Norfolk Ang

Tencent Holdings (HKSE: 00700): 15 August 2018, Wednesday, 10.32pm Singapore Time

Tencent Holdings (HKSE: 00700): 

15 August 2018, Wednesday, 10.32pm Singapore Time

(Click on Technical Chart above to Expand)

Attached above is the technicals for Tencent Holdings that is listed in Hong Kong (HKSE: 00700). It does seem like Tencent Holdings is enacting my live forewarnings back in January 2018 -- that tech stocks will be unloaded by hedge funds sharply in 2018 as they are over-valued and to serve as sector rotation from tech to commodity-energy stocks to mark 50th percentile of a bull market. Tencent had completed a 9month-12month Shoulder-Head-Shoulder (SHS) Price Structure. The Target Price projected down to satisfy the SHS to end the major correction will be $264.60-$266.60, projected by X = height of head in SHS. Tencent has successfully backtested the neckline breakdown this week. It is a signal for Tencent to proceed going down towards TP on chart.

Additional Note:

Note that at TP of $264.60-$266.60, The long term uptrend of Tencent Holdings is not derailed at all.

Refer to Attached Chart Below:

Tencent Holdings (HKSE: 00700): 

15 August 2018, Wednesday, 10.32pm Singapore Time

(Click on Technical Chart above to Expand)

Donovan Norfolk Ang