Tencent Music Entertainment may fall to 10.60 - 11.10

Our pivot point stands at 14.4.

Our preference

The downside prevails as long as 14.4 is resistance.

Alternative scenario

Above 14.4, look for 15.4 and 16.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the share stands below its 20 and 50 day moving average (respectively at 14.298 and 14.3886).

Supports and resistances

16 **

15.4 *

14.4 **

14

13.34 (USD-last)

11.7

11.1 **

10.6 *

10 **

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