Supporting Technicals:
- Various indications of distribution phase identified
- Tencent is trading weaker than market
- FFI remains below zero signalling fund outflow
- MACD momentum remains downward bias
Risk:
- FFI is below zero but upward sloping
Stop:
Above short term down trendline (Green)
Target:
1st Objective is HK$340-350 zone
(Fibo 1.618% + Previous minor consolidation phase)
- Various indications of distribution phase identified
- Tencent is trading weaker than market
- FFI remains below zero signalling fund outflow
- MACD momentum remains downward bias
Risk:
- FFI is below zero but upward sloping
Stop:
Above short term down trendline (Green)
Target:
1st Objective is HK$340-350 zone
(Fibo 1.618% + Previous minor consolidation phase)
Trade closed: target reached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.