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 TCTZF
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Evaluation of TENCENT HOLDINGS LTD stock downgraded after the last trading session.
(Updated on Mar 27, 2024)

Buy or Hold candidate since Mar 25, 2024 Gain 4.95% PDF

The TENCENT HOLDINGS LTD stock price gained 3.08% on the last trading day (Wednesday, 27th Mar 2024), rising from $37.60 to $38.76. It has now gained 5 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 2.21% from a day low at $38.00 to a day high of $38.84. The price has risen in 7 of the last 10 days and is up by 3.35% 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, 120 thousand more shares were traded than the day before. In total, 124 thousand shares were bought and sold for approximately $4.79 million.

The stock has broken the horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $37.03 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 $40.29 sometime during the next 3 months.

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TCTZF Signals & Forecast

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 $37.05 and $36.29. 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 13.77%. 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 3.35% to $40.05 within 30 trading days since signal was issued (Thursday, March 28, 2024).

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 $36.25 and $35.55. 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 $36.25. If this is broken, then the next support from accumulated volume will be at $35.55 and $34.11.

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 $0.84 between high and low, or 2.21%. For the last week, the stock has had daily average volatility of 3.27%.

Our recommended stop-loss: $37.02 (-4.48%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 16 days ago.)

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

For the upcoming trading day on Thursday, 28th we expect TENCENT HOLDINGS LTD to open at $38.53, and during the day (based on 14 day Average True Range), to move between $37.42 and $40.10, which gives a possible trading interval of +/-$1.34 (+/-3.45%) up or down from last closing price. If TENCENT HOLDINGS LTD takes out the full calculated possible swing range there will be an estimated 6.91% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $36.25, some $2.51 (6.47%) from the current price of $38.76, our system finds the risk reward attractive.

Is TENCENT HOLDINGS LTD stock A Buy?

TENCENT HOLDINGS LTD holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for TENCENT HOLDINGS LTD of Thursday, March 28, 2024

Fair opening price March 28, 2024 Current price
$38.53 ( 0.579%) $38.76

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

Trading levels for TCTZF

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 39.37 1.59 %
R2 39.05 0.761 %
R1 38.85 0.249 %
Current price: 38.76
Support S1 38.21 -1.41 %
S2 38.01 -1.92 %
S3 37.69 -2.75 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0 .
R2 0 .
R1 0 .
Current price 38.76
Support S1 36.25 -6.47%
S2 35.55 -8.27%
S3 34.11 -11.99%

TCTZF Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 May 17, 2024 May 17, 2024 May 31, 2024 $0.434 1.12%
2 May 19, 2023 May 19, 2023 May 19, 2023 $0.307 0.719%
3 May 20, 2022 May 20, 2022 Jun 01, 2018 $0.204 0.390%
4 May 24, 2021 May 24, 2021 May 24, 2021 $0.206 0.270%
5 May 15, 2020 May 15, 2020 May 15, 2020 $0.155 0.287%

FAQ

What is the symbol for TENCENT HOLDINGS LTD Stock and on which exchange is it traded?
The symbol for TENCENT HOLDINGS LTD is TCTZF and it is traded on the PINK (Pink Sheets).

Should I buy or sell TENCENT HOLDINGS LTD Stock?
TENCENT HOLDINGS LTD holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

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 (TCTZF) share was $38.76.

What is the 52-week high and low for TENCENT HOLDINGS LTD Stock?
The 52-week high for TENCENT HOLDINGS LTD Stock is $50.64 and the 52-week low is $32.45.

What is the market capitalization of TENCENT HOLDINGS LTD Stock?
As of the 2024-03-27, the market capitalization of TENCENT HOLDINGS LTD is 350.613B.
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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... TCTZF Profile

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