Tencent Music Entertainment may rise to 16.80 - 17.70

Our pivot point stands at 12.1.

Our preference

The upside prevails as long as 12.1 is support.

Alternative scenario

Below 12.1, expect 10.7 and 9.8.

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 11.021 and 11.4172).

Supports and resistances

18.6 **

17.7 *

16.8 **

15.9

13.48 (USD-last)

12.7

12.1 **

10.7 *

9.8 **

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