In today’s briefing:
- Tencent Nearing Our Bear Target to Reverse from Short to Long
Tencent Nearing Our Bear Target to Reverse from Short to Long
- Tencent short from 395 is nearing our 282/264 target zone where we see a low to reverse to long as bull divergence matures.
- Tencent 282/264 buy zone (cycle low due in early October) targets 335 once back above 310.
- MACD bull divergence is more constructive and warns of an upside surprise in 2023 (after a Q1 decline) to challenge 395/400 macro pivot resistance.
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