Tencent has demonstrated strong bullish momentum over the past five days. As a result, share price has surged significantly and is now sitting well above both the 20-day and 50-day EMAs, indicating strong short-term and medium-term bullish momentum. We anticipate the rising trajectory will propel the stock higher and test the next level of resistance in the near term.
Net profit is expected to grow at a CAGR of 32% for the next 3 years with strong net margins higher than 32%.
Source: Rakuten Research - 26 Sept 2024
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Created by rakutentrade | Nov 22, 2024