Tencent Music Entertainment may rise to 15.10 - 16.00

Our pivot point stands at 11.2.

Our preference

The upside prevails as long as 11.2 is support.

Alternative scenario

Below 11.2, expect 9.9 and 9.1.

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 11.599 and 11.3112).

Supports and resistances

16.8 **

16 *

15.1 **

14.3

12.53 (USD-last)

11.8

11.2 **

9.9 *

9.1 **

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