Tencent Holdings $TENCENT : Pullback levels after the surge to 428
Heavy volume drove an early-session rally to a high of 428.40. In the afternoon, volume tapered off as the price pulled back to the 419.50–420.50 area near the round-number level, consolidating and seeking a bottom.
Key level to watch: 419.00, critical neckline support:
- As long as the 419.00 round-number support holds, this is a healthy pullback after the rally. Consider scaling in around 419.50–420.50 to position for a second push higher;
- Place the stop-loss at 417.80 (a decisive break below this level means the morning bullish breakout has completely failed; exit without hesitation);
- First watch 425.20 overhead (the first intraday resistance and the opening congestion area). If it breaks, the next levels are the intraday high of 428.40 and the 430.00 ultimate target.
The risk-reward ratio for chasing the rally is average. It’s safer to wait for a pullback to strong support and enter after it stabilizes.
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English Setup:
- Key Resistance: $425.20 (Morning Breakout Level), Target 2: $428.40 (Day High) / $430.00
- Critical Support: $419.00 - $420.00 (Psychological Base & Retest Zone)
- Invalidation: $417.80 (Hard stop below support invalidates bullish setup)
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Bulls vs. bears poll: After surging to 428.40 on heavy morning volume, the price pulled back on lighter volume to the 420.00 level to consolidate. Will the bulls finish shaking out weak hands and make a second push higher this afternoon, or is the rebound losing momentum and about to break decisively below 419 support? Join the discussion in the comments!
$TENCENT #TradFi #港股 #BinanceSquare
Heavy volume drove an early-session rally to a high of 428.40. In the afternoon, volume tapered off as the price pulled back to the 419.50–420.50 area near the round-number level, consolidating and seeking a bottom.
Key level to watch: 419.00, critical neckline support:
- As long as the 419.00 round-number support holds, this is a healthy pullback after the rally. Consider scaling in around 419.50–420.50 to position for a second push higher;
- Place the stop-loss at 417.80 (a decisive break below this level means the morning bullish breakout has completely failed; exit without hesitation);
- First watch 425.20 overhead (the first intraday resistance and the opening congestion area). If it breaks, the next levels are the intraday high of 428.40 and the 430.00 ultimate target.
The risk-reward ratio for chasing the rally is average. It’s safer to wait for a pullback to strong support and enter after it stabilizes.
---
English Setup:
- Key Resistance: $425.20 (Morning Breakout Level), Target 2: $428.40 (Day High) / $430.00
- Critical Support: $419.00 - $420.00 (Psychological Base & Retest Zone)
- Invalidation: $417.80 (Hard stop below support invalidates bullish setup)
---
Bulls vs. bears poll: After surging to 428.40 on heavy morning volume, the price pulled back on lighter volume to the 420.00 level to consolidate. Will the bulls finish shaking out weak hands and make a second push higher this afternoon, or is the rebound losing momentum and about to break decisively below 419 support? Join the discussion in the comments!
$TENCENT #TradFi #港股 #BinanceSquare