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Tencent Holdings (TENCENT) Stock Price Prediction: Price holds near support as derivatives lean long and Goldman keeps HK$650 target

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Tencent Holdings (TENCENT) Stock Price Prediction: Price holds near support as derivatives lean long and Goldman keeps HK$650 target

Tencent Holdings (TENCENT) was last quoted at $50.64, down 2.60% on the day and sitting just above immediate support. Goldman Sachs kept its 12-month HK$650 target unchanged on November 10, 2026, w...

Tencent Holdings (TENCENT) traded at $50.64, down 2.60% over 24 hours, with the session range compressed between $52.02 and $50.61. That leaves the stock just above immediate support at $50.16 and still above strong support at $49.68, so the near-term tape is weak but not yet decisively damaged. The daily ATR of $1.45 suggests the stock can still move meaningfully around these levels.

Goldman Sachs, in a November 10, 2026 report, said it expects resilient gaming and advertising growth at Tencent, forecasting third-quarter revenue increases of 8% and 19%, respectively. It also kept its 12-month price target unchanged at HK$650 while trimming its gaming valuation multiple from 20 times to 19 times. That combination matters: the target was held, but the multiple cut signals a more cautious stance on gaming valuation even as top-line growth assumptions remain intact.

The moving average setup still points to an early bullish recovery because the 7-day average at $52.68 is above the 20-day average at $50.80. That said, price is still below the 7-day, 50-day ($52.60), and 12/26 EMA cluster around $51.8, which means the recovery needs confirmation.

Momentum is not oversold. 0000, consistent with a lack of conviction. 80, not at an exhaustion extreme. 68.



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