Today we will analyze the stock TENCENT HOLDINGS LTD (TCEHF.PK) for internet stock trading in the PK stock market,
Stock Technical indicators to notice in TENCENT HOLDINGS LTD (TCEHF.PK)
1- Last bearish trend was from 15.32 $ (8/14/2009) to 14.35 $ (8/19/2009) a 0.97 $ move 2- The current bullish trend started from 14.35 $ at 8/19/2009 and is currently trading at 15.29 $.
3- TCEHF.PK current support level is at 14.95 which is the 61.80 % fibonacci retracement of the last 0.97 $ move.
4- TCEHF.PK current resistance level is at 15.32 which is the 100.00 % fibonacci retracement of the last 0.97 $ move.
5- According to ADX Indicator, the trend is currently strong bullish, which is getting stronger.furthermore, the ADX indicator location between DMI+ and DMI- is hinting on a strong move ahead. the stock is very volatile at this point.
TENCENT HOLDINGS LTD (TCEHF.PK) Short term stock chart patterns for internet stock trading :

6- The Stock was supported by a support line, identified by two points: 14.350 and 13.800, and is currently supporting at 14.694.
TENCENT HOLDINGS LTD (TCEHF.PK) Mid term stock chart patterns for internet stock trading :

7- The Stock traded in a bullish stock channel identifed by support at 14.350 and 12.800,resistance between 15.320 and 13.890, the stock channel is currently supported from below by 14.738 and resisted from above by 15.922.
TENCENT HOLDINGS LTD (TCEHF.PK) Long term stock chart patterns for internet stock trading :

8- The Stock formed a 1.450 $ height triangle which was broken up at 6.000, target of the pattern is 7.450.

Stock Trading Conclusion:
TENCENT HOLDINGS LTD (TCEHF.PK) was trading in a strong bullish wave, which is becoming stronger .
Technical indicators and stock chart patterns show highly volatile movements favoriting bullish direction,
recommend stopping short positions or entering long position or bullish spread options strategy in online trading , because of the high expected future volatility, consider constructing symmetrical options strategies for buying volatility through strangles or straddles in online trading. .

Stock Resistance Levels : 15.32, 15.58, 15.92.
Stock Support levels : 15.07, 14.95, 14.93, 14.84, 14.82, 14.72, 14.71, 14.69, 14.58, 14.35,.