Below are the downside targets for Tencent Holdings (TCEHY).
We don’t know if the trade dispute between China and the U.S. is the cause of the decline in Tencent Holdings (TCEHY). However, we do know that the trade dispute is not helping the stock. The downside targets are as follows:
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$26.41 (conservative target)
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$23.37 (mid-range target)
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$20.32 (extreme target)
Our experience has been that the nature of the preceding rise determines the following decline. In this case, TCEHY appears likely to achieve the mid-range target with relative ease.