Trading ideas for Tencent Holding (HKEX) 17.08.2020

#TENCENT (HKEX)

The overall movement is upward. The stock is trading in the range of 365 and 135 moving averages. The price pivot zone of 500.0 is holding back sellers. Awesome Oscillator shows a bullish divergence, while Stochastic Oscillator signals an oversold condition. A breakout of the price pivot zone of 514.3 will result in the formation of a 1-2-3 ascending pattern.

Trading recommendations:

Buy above 514.3.

Stop Loss: 500.0.

Target levels: 529.5; 562.5.