Tencent Holdings Ltd (TCEHY) - 29th December 2023 | @ 74 Days | + 8.05%
Last trade: + 8.05% | 'B' class signal detected in Tencent Holdings Limited (TCEHY). Running at an average wavelength of 74 days over 14 iterations since April 2021. Currently troughing.
Instrument Summary
Tencent Holdings Ltd (TCEHY) is a Chinese multinational technology conglomerate, known for its extensive portfolio of brands and services. Some of its notable businesses include WeChat, one of the world's largest messaging platforms; QQ, a popular instant messaging service; Tencent Video, a leading online video platform; and Tencent Games, a major player in the gaming industry with hit titles like Honor of Kings and PUBG Mobile. Additionally, Tencent has investments in various tech companies globally.
ΣL Cycle Summary
Wrapping up in 2023 is this excellent signal in Tencent, imminently troughing from the component around 74 days average wavelength from a sample of 16 iterations. What is quite interesting about this phasing is that the wavelength is notionally the 80 day ‘nominal’ wave, in Hurst nomenclature but has moved in an inverse direction to the recent very bullish up-leg in US markets. The next peak is expected early February, 2024.
Trade Update
See also: Live ΣL Portfolio & History
Summary of the most recent trade enacted with this signal and according to the time prediction detailed in the previous post for this instrument, linked below.
Type: Early Sell - TCEHY 16th November 2023
Entry: 16th November 2023 @ 41.10
Exit: 29th December 2023 @ 37.79
Gain: 8.05%
Current Signal Status
Defining characteristics of the component detected over the sample period.
Detected Signal Class: B - learn more
Average Wavelength: 74.15 Days
Completed Iterations: 14
Component Yield Over Sample: 198.90% - learn more