Tencent Music Entertainment may rise to 17.10 - 17.80

Our pivot point is at 13.7.

Our preference

As long as 13.7 is support look for 17.1.

Alternative scenario

Below 13.7, expect 12.6 and 11.9.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The stock could retrace in the short term. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 14.642 and 13.4698).

Supports and resistances

18.4 **

17.8 *

17.1 **

16.4

14.8 (USD-last)

14.1

13.7 **

12.6 *

11.9 **

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