TECHNICAL ANALYSIS

TENCENT may trend higher after breaking out of its three-week rectangular pattern two sessions ago. The convergence of the 20-day and 50-day EMAs, which are on the verge of confirming a bullish crossover, suggests that the upward momentum is building. This rising momentum is likely to propel the stock higher, potentially to test the next resistance level in the near term.

Fundamentals

Net profit is expected to grow at a CAGR of 29% for the next 3 years with strong net margins higher than 30%.

Source: Rakuten Research - 13 Aug 2024

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