Tencent Holdings Ltd Stock Forecast
Tencent Holdings Ltd stock price ended at $38.98 on Friday, after gaining 0.103%.
(Updated on Apr 19, 2024)
The Tencent Holdings Ltd stock price gained 0.103% on the last trading day (Friday, 19th Apr 2024), rising from $38.94 to $38.98. During the last trading day the stock fluctuated 0.669% from a day low at $38.84 to a day high of $39.10. The price has been going up and down for this period, and there has been a -1.12% loss for the last 2 weeks. Volume fell on the last day by -315 thousand shares and in total, 3 million shares were bought and sold for approximately $123.55 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 9.83% during the next 3 months and, with a 90% probability hold a price between $39.47 and $44.75 at the end of this 3-month period.
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TCEHY Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -2.26%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 $38.79 and $37.56. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Tencent Holdings Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at $36.40 and $36.02. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Tencent Holdings Ltd finds support just below today's level at $36.40. If this is broken, then the next support from accumulated volume will be at $36.02 and $34.98.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.260 (0.669%) between high and low. For the last week, the stock has had daily average volatility of 0.97%.
Our recommended stop-loss: $37.32 (-4.25%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (TCEHY) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Tencent Holdings Ltd to open at $38.97, and during the day (based on 14 day Average True Range), to move between $38.35 and $39.61, which gives a possible trading interval of +/-$0.627 (+/-1.61%) up or down from last closing price. If Tencent Holdings Ltd takes out the full calculated possible swing range there will be an estimated 3.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $39.42 (1.13%) than the support at $36.40 (6.62%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Tencent Holdings Ltd stock A Buy?
Several short-term signals, along with a general good trend, are positive and 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.
Current score: 3.529 Buy Candidate Unchanged
Predicted Opening Price for Tencent Holdings Ltd of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $38.97 ( 0.0171%) | $38.98 |
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 | 39.23 | 0.650 % | |
| R2 | 39.13 | 0.395 % | ||
| R1 | 39.07 | 0.238 % | ||
| Current price: | 38.98 | |||
| Support | S1 | 38.87 | -0.272 % | |
| S2 | 38.81 | -0.429 % | ||
| S3 | 38.71 | -0.684 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 39.88 | 2.31 % | |
| R2 | 39.53 | 1.41 % | ||
| R1 | 39.42 | 1.13 % | ||
| Current price | 38.98 | |||
| Support | S1 | 36.40 | -6.62% | |
| S2 | 36.02 | -7.59% | ||
| S3 | 34.98 | -10.26% |
TCEHY Dividend Payout History
| # | 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
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