Rakuten Trade Research Reports

Foreign Equities (HK): TENCENT HOLDINGS LTD

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Publish date: Tue, 28 May 2024, 11:20 AM
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TECHNICAL ANALYSIS

TENCENT is poised for a potential bullish breakout from its two-week bullish flag pattern. Although there was a pullback following the recent rally, we view this correction as a healthy consolidation necessary to sustain the upward trend. As the stock is still trading above all EMAs, it indicates that the stock is in consolidation mode with a positive bias hence we believe the stock has a strong chance of staging a breakout.

Fundamentals

Net profit is expected to grow at a CAGR of 12% for the next 3 years with strong net margins around 30%.

Source: Rakuten Research - 28 May 2024

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