{"id":148296,"date":"2019-05-24T10:48:34","date_gmt":"2019-05-24T14:48:34","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=148296"},"modified":"2019-05-24T06:50:19","modified_gmt":"2019-05-24T10:50:19","slug":"tencent-h-0700-analysis-slowing-sales-forecast-bearish-for-tencent-price","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/05\/tencent-h-0700-analysis-slowing-sales-forecast-bearish-for-tencent-price\/","title":{"rendered":"Tencent H-0700 Analysis: Slowing sales forecast bearish for Tencent price"},"content":{"rendered":"
May 24, 2019<\/div>
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By IFCMarkets<\/a><\/strong><\/p>\n

Slowing sales forecast bearish for Tencent price<\/strong><\/p>\n

Tencent stock declined after the company forecast slowdown in sales in 2019. Will the Tencent price<\/a> continue declining?<\/p><\/blockquote>\n

Hong Kong based media and entertainment group Tencent Holdings forecast sharp slowdown in video advertising sales in China in 2019. Its chief executive officer of video streaming business told Tuesday the growth rate of advertising sales on China’s video platforms would decrease from 37% previously to 19%. Online advertising contributed 13.4 billion yuan ($1.94 billion), or nearly 16% of Tencent’s total revenue in the first quarter of 2019. Gaming, news and video were the largest contributor to sales, accounting for 33% of revenue in the three months to March. Total revenue in the first quarter rose 16% – about a third of its pace in the same period a year earlier and the slowest revenue growth in the first quarter in 15 years. Lower revenue forecast is bearish for Tencent stock price.<\/p>\n

\"H-0700<\/p>\n

On the daily timeframe the H-0700: D1<\/b> has closed below the 200-day moving average MA(200) which is falling. This is bearish.<\/p>\n