Tencent Holdings Ltd (HKG:0700) Partners With Fox

Tencent Holdings Ltd (HKG:0700) Partners With Fox

Tencent Holdings Ltd (HKG:0700) Partners With Fox

  • In its quest to expand its global reach, Tencent Holdings Ltd. has quietly become China’s top corporate investor in Silicon Valley, pouring money into everything from electric cars to moonshot ventures such as space tourism and asteroid mining.
  • Fox International Productions is bolstering its engagement with China’s all-important youth demographic.
  • The international production arm of 20th Century Fox has partnered with Chinese internet giant Tencent to co-produce 10 Chinese-language, feature-length movies for online distribution in the country.
  • The projects represent the debut slate of Ivy Film Lab, a sub-brand of the Chinese tech company’s expanding film subsidiary, Tencent Pictures. Ivy Film was set up specifically to develop and produce film and TV projects from young Chinese screen talents, targeting a youthful domestic digital audience.

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.

By the way, prices are vulnerable to a correction towards 251.36.

The projected upper bound is: 281.86.

The projected lower bound is: 263.32.

The projected closing price is: 272.59.

TENCENT closed up 1.600 at 271.600. Volume was 32% below average (neutral) and Bollinger Bands were 65% wider than normal.

Open         High           Low            Close        Volume
271.800    273.600    269.000    271.600    12,464,553

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

Moving Averages: 10-period        50-period      200-period
Close:                       273.46            245.21             213.43
Volatility:                27                     24                    25
Volume:                  23,650,846    20,843,958    17,034,696

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 high 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 56 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 51.0461. This is not an overbought or oversold reading. The last signal was a sell 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 65.76. 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 3 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 15. This is not a topping or bottoming area. The last signal was a sell 4 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 3 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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