Long Position on TCEHY @ $56.00 on 1/8/2018 (Momentum)

Tencent Holdings Limited (TCEHY) is an investment holding company. The company provides Internet value-added services (VAS) and online advertising services in Mainland China, Hong Kong, North America, Europe, other Asian countries, and internationally.

The company operates through VAS, Online Advertising, and Others segments.

It offers online/mobile games, community VAS, and applications across various Internet and mobile platforms; instant messaging services; and online literature services.

The company's online advertising services include display advertising; and delivery of pay-for click, pay-for download, or pay-for instant display advertisements. The company also provides payment related, cloud, and other services.

In addition, it is involved in the development of software and provision of information technology services; asset management business; design and production of advertisement; development and operation of online games; and provision of online music entertainment services. Tencent Holdings Limited has a strategic partnership with Dentsu Aegis Network.

Shares have formed a bullish "cup and handle" and are on the verge of breaking to the upside. The 50-day moving average shown in brown supports the formtion.

Entry Point: $56.00

Stop Loss: $53.25

52-Weeks Trading Range: $25.06 to $56.05

Target Price: $61.50

Updates

1/26/2018 9:36:27 AM

TECHY closed at $60.50

Position closed on 1/26/2018 at price of $60.50 with a 8.04% gain in 18 days.

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