Education: Tencent – Only Look to Long for The Time Being

Looking at Tencent’s Chart, it had broken out of an inverse head and shoulders formation pattern with relative ease. Price action is now hovering above both the 50 and 200EMA – a healthy signal that for the time being, its on an uptrend momentum. PA was also supported by strong buyers that emerged from its previous consolidation region during July 2017

A good support area will be at 310, while a big resistance region will be at 378.

Stay cautiously bullish.

Best Regards,
NourCapital - Tracking Smart Money Flow

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