Tencent (OTCMKTS:TCEHY) Stock Passes Above 200 Day Moving Average – What’s Next?

Tencent Holdings Limited (OTCMKTS:TCEHY)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $50.45 and traded as high as $52.35. Tencent shares last traded at $51.52, with a volume of 1,915,215 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, New Street Research upgraded shares of Tencent to a “strong-buy” rating in a report on Monday, September 9th.

Tencent Trading Down 1.4 %

The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.33 and a current ratio of 1.35. The company has a market capitalization of $477.46 billion, a price-to-earnings ratio of 27.12 and a beta of 0.18. The firm has a fifty day moving average price of $52.94 and a 200-day moving average price of $50.45.

Tencent Company Profile

Tencent Holdings Limited, an investment holding company, offers value-added services (VAS), online advertising, fintech, and business services in the People's Republic of China and internationally. It operates through VAS, Online Advertising, FinTech and Business Services, and Others segments. The company's consumers business provides communication and services, such as instant messaging and social network; digital content including online games, videos, live streaming, news, music, and literature; fintech services, which includes mobile payment, wealth management, loans, and securities trading; and various tools, such as network security management, browser, navigation, application management, email, etc.