TENCENT (0700)

Tencent (0700) is currently trading near the green trendline. Its EMA10-EMA20 and MACD golden cross suggesting a possible uptrend. Hence there is a possibility of a retest of the HKD510 resistance with next resistance at HKD550.98. In contrast, a bearish bias and a short selling opportunity might arise if there is a daily close below the red trendline. Subsequently, downside support located at HKD400 and HKD368.