Tencent Music Entertainment may rise to 17.00 - 17.60

Our pivot point stands at 14.1.

Our preference

The upside prevails as long as 14.1 is support.

Alternative scenario

The downside breakout of 14.1 would call for 13.2 and 12.6.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is above its 20 and 50 day moving average (respectively at 14.478 and 14.3418).

Supports and resistances

18.2 **

17.6 *

17 **

16.4

14.98 (USD-last)

14.5

14.1 **

13.2 *

12.6 **

Number of asterisks represents the strength of support and resistance levels.