Tencent: Significant Decline!

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Tencent's stock took a significant hit, creating a noticeable gap in the chart. Nevertheless, for now, our primary assumption remains that the price is currently working on the turquoise wave 3 and will soon move toward the resistance at HK$715. Afterward, a corrective movement should follow during wave 4. However, if the stock falls below the support at HK$364.80, downward pressure will mount significantly and make it increasingly likely that the price will drop to new lows below the nearest marks at HK$261 and HK$188.60 to develop a new low of the large wave alt.[2] in green (probability: 36%).

Penafian

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