Technical Note: Tencent Holdings (Hong Kong) (HK:700)

Technical Note: Tencent Holdings (Hong Kong) (HK:700)

The share continues to find support on it’s 200-day simple moving average and horizontal support while the RSI trades near oversold territory with a print of 35.

Resistance is currently at HK$389 and HK$394 while support comes in at HK$381.50.

The share is potentially forming a double bottom which will be confirmed above HK$394.

The first target for the double bottom is HK$406.

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