Tencent Holdings Ltd (HKG:0700) A Top Ten Tech Giant

Tencent Holdings Ltd (HKG:0700) A Top Ten Tech Giant

Tencent Holdings Ltd (HKG:0700) A Top Ten Tech Giant

  • Tencent made the top ten behind tech giants Google, Apple, Microsoft, Amazon and Facebook, as well as Visa and AT&T, and was valued ahead of IBM and McDonald’s.
  • Tencent is the first non-US owned company to crack the $100 bn value barrier, after a 27% increase year-on-year saw it valued at $108 bn in the annual report by WPP and Kantar Millward Brown.
  • Chinese internet giant Tencent (700.HK) has been added to UOB Kay Hian’s top picks for June, with the broker seeing around 14% upside.
  • Tencent Holdings picks 7.71% in Chinese smart TV maker Coocaa for $44m

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.

Overall, the bias in prices is: Upwards.

Short term: Prices are moving.

Intermediate term: Prices are trending.

Note: this chart shows extraordinary price action to the upside.

The projected upper bound is: 283.19.

The projected lower bound is: 265.53.

The projected closing price is: 274.36.

TENCENT closed up 0.600 at 273.400. Volume was 19% below average (neutral) and Bollinger Bands were 18% wider than normal.

Open          High            Low            Close          Volume
272.800     274.400     271.400     273.400     14,994,316

Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period       50-period         200-period
Close:                       273.02            247.96              214.71
Volatility:                22                    23                      25
Volume:                   19,172,172     20,099,628     17,051,792

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 27.3% above its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume into 0700.HK (mildly bullish). Our trend forecasting oscillators are currently bullish on 0700.HK and have had this outlook for the last 59 periods.

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 75.0000. This is not an overbought or oversold reading. The last signal was a sell 10 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 66.67. 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 6 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 2. This is not a topping or bottoming area. The last signal was a sell 7 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 6 period(s) ago.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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