Tencent Music Entertainment may fall to 8.00 - 8.70

Our pivot point is at 12.

Our preference

The downside prevails as long as 12 is resistance.

Alternative scenario

Above 12, look for 13.1 and 13.8.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the share stands below its 20 and 50 day moving average (respectively at 11.803 and 13.4304).

Supports and resistances

13.8 **

13.1 *

12 **

11.5

10.73 (USD-last)

9.3

8.7 **

8 *

7.3 **

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