Tencent Holdings Ltd, more commonly known as Tencent, is a Chinese multinational entertainment and holdings company. It is the largest gaming company in the world. Its social media app WeChat had 1.2 billion monthly active users in 2020.
It has some very strong seasonal gains. Over the last 10 years, Tencent has risen 09 times between January 11 and January 31. The largest gain was over 20% in 2021. The largest fall has been -8.22% in 2020. The percentage of winning trades has been 90%. The question this year is whether Tencent will repeat its recent strong trends?
Major Trade Risks: The main risk to this seasonal pattern would be any Gov’t restrictions on the gaming company. Chinese authorities have a policy to restrict gaming.
HYCM clients can trade Tencent and access the Seasonax tool in order to analyse over 25,000 currency pairs, indices, commodities, as well as individual stocks. Please contact your account manager for a free trial and get started right away.