I like what I am seeing on the Tencent ADR chart. The price has been knocked back as a result of fears around Chinese government regulation - but as you may know - I'm always up for a good reversal play. The stochastic is signaling a bullish crossover while the RSI is signaling a bullish divergence. Currently at $39.99, the price is extended well below it's 200-day moving average which trades at around $51.52. A positive move in the US tonight could spark a turnaround on the oversold Hang Seng and Asian markets.
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Please feel free to contact the Unum Trading desk for any Trading related queries : 011 384 29 29
Unum Capital. An authorised South African Financial Services Provider (FSP 564)
________________________________________
Please feel free to contact the Unum Trading desk for any Trading related queries : 011 384 29 29
Unum Capital. An authorised South African Financial Services Provider (FSP 564)