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Tencent
Ticker: 0700.HK
Price: HKD546.50
Company News
- Tencent’s market capitalization has surpassed Facebook’s following a huge rally in the Chinese firm’s shares this year.
- The gaming and social media giant’s market cap stood at 5.15 trillion Hong Kong dollars ($664.50 billion) at around 3:07 p.m. Singapore time. Meanwhile, Facebook’s market cap totaled $656.15 billion as of Tuesday’s close.
- Tencent shares have rallied around 43% year-to-date, compared to just over 12% for Facebook. That has added around 1.53 trillion Hong Kong dollars ($197.74 billion) onto Tencent’s value.
Tencent’s market capitalization has surpassed Facebook’s following a huge rally in the Chinese firm’s shares this year.
The total value of publicly traded shares of the Chinese gaming and social media giant stood at 5.15 trillion Hong Kong dollars ($664.50 billion) at around 3:07 p.m. Singapore time. Meanwhile, Facebook’s market cap totaled $656.15 billion as of Tuesday’s close.
Tencent is known for its popular mobile games but also for running WeChat — China’s most popular messaging app with over a billion users. WeChat has a social media feature called Moments where users can post pictures, videos and links. And Tencent makes money from advertising through Moments.
The company also runs an instant messaging service called QQ. Revenue from social networks account for about 23% of Tencent’s overall sales.
Tencent shares have rallied around 43% year-to-date, compared to just over 12% for Facebook. That rally has added around 1.56 trillion Hong Kong dollars ($201.44 billion) to Tencent’s value.
The Chinese giant has benefited from users staying at home during the worst of the coronavirus pandemic in China earlier this year as many of those stuck at home spent time on its games and apps.
This is not the first time that Tencent’s market cap has surpassed Facebook’s. It happened in late 2017 and a number of times briefly in 2018. But in 2019, Facebook stayed ahead of Tencent for the whole year, according to data from S&P Global Market Intelligence.
Business Summary
Tencent Holdings Limited is an investment holding company principally involved in the provision of value-added services (VAS) and online advertising services.
The Company operates through three main segments. The VAS segment is mainly involved in provision of online/mobile games, community value-added services and applications across various Internet and mobile platforms.
The Online Advertising segment is mainly engaged in display based and performance based advertisements. The Others segment is mainly involved in provision of payment related services, cloud services and other services.
Price Performance
Relative Valuation
Technical Indicators
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
The projected upper bound is: 590.87.
The projected lower bound is: 505.77.
The projected closing price is: 548.32.
Candlesticks
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 27 white candles and 22 black candles for a net of 5 white candles.
A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.
Momentum Indicators
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
Stochastic Oscillator
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 68.8000. This is not an overbought or oversold reading. The last signal was a buy 7 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 57.39. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 13 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 61. This is not a topping or bottoming area. The last signal was a sell 6 period(s) ago.
MACD
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 10 period(s) ago.
Rex Takasugi – TD Profile
TENCENT closed up 4.500 at 546.000. Volume was 79% below average (consolidating) and Bollinger Bands were 13% narrower than normal.
Open High Low Close Volume 547.000 549.500 542.500 546.000 4,820,881
Technical Outlook Short Term: Neutral Intermediate Term: Bullish Long Term: Bullish
Moving Averages: 10-period 50-period 200-period Close: 538.25 482.81 400.09 Volatility: 71 53 41 Volume: 18,533,142 22,261,934 21,071,584
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
Summary
TENCENT is currently 36.5% above its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods.
Our volume indicators reflect volume flowing into and out of 0700.HK at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on 0700.HK and have had this outlook for the last 37 periods.
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