Binni Ong wrote a post · Jun 18 22:07

Tencent stock has reversed in 2024

In the video, I also provided evidence from price movements why $TENCENT(00700.HK)$ trend has reversed and possibly tradeable zones.

Tencent's stock has reversed course, fueled by an impressive 54% surge in Q1 2024 adjusted net income. Key drivers include booming online ad revenue, promising gaming outlook with new game "Dungeons and Fighter", diversified growth from fintech and cloud, and a doubling of share buybacks. Easing regulations and bullish technical indicators further support the stock's upward momentum.

Short-term trading instruments:

$TencentMBeCW241104(5C6W.SG)$

$Tencent 5xLongSG251113(DYSW.SG)$

$Tencent 5xLongUB251128(MNSW.SG)$

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