Interesting Tencent fractal repetitions
This fractal is something I noticed back in Sept and at the time I just found the coincidence funny and didn't take it too seriously, I wish I had though, because it would have been a great short!
Basically I took the rally starting from the bottom in Mar 2020 and then flipped it upside down and moved it over so now the peak in Feb 2021 is the current bottom. It was for these reasons I was getting bullish on China when Tencent hit 45 and I was shocked when it tanked to 38, thinking the whole pattern was now broken. I admit that the news they were pumping out a the time even got to me and I didn't take advantage of the wall street manipulation.
Now going forward, it would again be funny if it follows the rally projection here. I think it is unlikely that it'll follow it exactly, but who knows at this point? If it does, watch out for that peak in the summer of 2023.
This is just more proof to me though that fractals can be a very useful tool in predicting the movement of a stock and you have to experience it unfold before you to believe in this kind of analysis.
Basically I took the rally starting from the bottom in Mar 2020 and then flipped it upside down and moved it over so now the peak in Feb 2021 is the current bottom. It was for these reasons I was getting bullish on China when Tencent hit 45 and I was shocked when it tanked to 38, thinking the whole pattern was now broken. I admit that the news they were pumping out a the time even got to me and I didn't take advantage of the wall street manipulation.
Now going forward, it would again be funny if it follows the rally projection here. I think it is unlikely that it'll follow it exactly, but who knows at this point? If it does, watch out for that peak in the summer of 2023.
This is just more proof to me though that fractals can be a very useful tool in predicting the movement of a stock and you have to experience it unfold before you to believe in this kind of analysis.
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