RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of TCEHY
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Green day on Wednesday for Tencent Holdings Ltd stock after gaining 2.26%
(Updated on Mar 27, 2024)

Buy candidate since Mar 26, 2024 Gain 2.26% PDF

The Tencent Holdings Ltd stock price gained 2.26% on the last trading day (Wednesday, 27th Mar 2024), rising from $38.05 to $38.91. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.12% from a day low at $38.49 to a day high of $38.92. The price has risen in 6 of the last 10 days and is up by 5.05% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $117.92 million.

The stock has broken the wide and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $37.63 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $41.30 sometime during the next 3 months.

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TCEHY Signals & Forecast

Mostly positive signals in the chart today. The Tencent Holdings Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $37.35 and $36.40. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 05, 2024, and so far it has risen 14.24%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

Buy
Special Signal Notification

Double Bottom Formation

Double Bottom Formation A buy signal from a double bottom formation was found on Tuesday, March 05, 2024 and based on theory for this formation the price should go up by 1.59% to $39.53 within 30 trading days since signal was issued (Thursday, March 28, 2024).

Support, Risk & Stop-loss for Tencent Holdings Ltd stock

Tencent Holdings Ltd finds support from accumulated volume at $37.40 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.430 between high and low, or 1.12%. For the last week, the stock has had daily average volatility of 0.90%.

The Tencent Holdings Ltd stock is extremely overbought on RSI14 (78). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: $37.24 (-4.30%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 78 and this increases the risk substantially. There is a buy signal from a pivot bottom found 16 days ago.)

Trading Expectations (TCEHY) For The Upcoming Trading Day Of Thursday 28th

For the upcoming trading day on Thursday, 28th we expect Tencent Holdings Ltd to open at $38.77, and during the day (based on 14 day Average True Range), to move between $38.13 and $39.69, which gives a possible trading interval of +/-$0.777 (+/-2.00%) up or down from last closing price. If Tencent Holdings Ltd takes out the full calculated possible swing range there will be an estimated 4.00% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $37.40, some $1.51 (3.88%) from the current price of $38.91, our system finds the risk reward attractive.

Is Tencent Holdings Ltd stock A Buy?

Several short-term signals are positive and the stock has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Tencent Holdings Ltd stock to perform well in the short-term period.

Current score: 2.883 Buy Candidate Unchanged

Predicted Opening Price for Tencent Holdings Ltd of Thursday, March 28, 2024

Fair opening price March 28, 2024 Current price
$38.77 ( 0.351%) $38.91

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for TCEHY

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 39.20 0.754 %
R2 39.04 0.332 %
R1 38.94 0.0709 %
Current price: 38.91
Support S1 38.61 -0.773 %
S2 38.51 -1.03 %
S3 38.34 -1.46 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0 .
R2 0 .
R1 0 .
Current price 38.91
Support S1 37.40 -3.88%
S2 36.40 -6.45%
S3 34.98 -10.10%

TCEHY Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 May 13, 2023 May 18, 2023 Jun 20, 2023 $0.306 0.700%
2 Jan 04, 2023 Jan 04, 2023 Jun 21, 2022 $2.26 4.70%
3 May 14, 2022 May 19, 2022 Jun 21, 2022 $0.205 0.425%
4 May 19, 2021 May 21, 2021 Jun 22, 2021 $0.206 0.278%
5 May 14, 2020 May 14, 2020 May 14, 2020 $0.155 0.277%

FAQ

What is the symbol for Tencent Holdings Ltd Stock and on which exchange is it traded?
The symbol for Tencent Holdings Ltd is TCEHY and it is traded on the PINK (Pink Sheets).

Should I buy or sell Tencent Holdings Ltd Stock?
Several short-term signals are positive and the stock has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Tencent Holdings Ltd stock to perform well in the short-term period.

How to buy Tencent Holdings Ltd Stock?
Tencent Holdings Ltd Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Tencent Holdings Ltd Stock.

What's the current price of Tencent Holdings Ltd Stock?
As of the end of day on the 2024-03-27, the price of an Tencent Holdings Ltd (TCEHY) share was $38.91.

What is the 52-week high and low for Tencent Holdings Ltd Stock?
The 52-week high for Tencent Holdings Ltd Stock is $50.18 and the 52-week low is $33.00.

What is the market capitalization of Tencent Holdings Ltd Stock?
As of the 2024-03-27, the market capitalization of Tencent Holdings Ltd is 354.81B.
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About Tencent Holdings Ltd

Tencent Holdings Ltd Tencent Holdings Limited, an investment holding company, provides value-added services (VAS) and Online advertising services in Mainland China and internationally. The company operates through VAS, Online Advertising, FinTech and Business Services, and Others segments. It offers online games and social network services; FinTech and cloud services, and online advertising services. The company is also involved in the production, investment, and dis... TCEHY Profile

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