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Thoughts on TCEHY at this level
I'm looking at $TCEHY and it seems like it's finding some resistance around the 55.80 mark today, which aligns with previous pivots. If it manages to break through and hold above that, we might see it retest higher levels. However, a sustained move below today's low of 54.84 would definitely invalidate that short-term observation for me and suggest more downside.
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Your read on $TCEHY's resistance at 55.80 is fair, but basing an entire strategy on a single day's pivot points might be overly simplistic. What's your broader thesis for the stock beyond short-term technicals?