First question is what is your holding period?
If you look to invest for more than 6 months to a year, then good to build your first position in Tencent at current price and we might see 7xx in future (unknown timeline) .
However, if you are trading for quick profit, the current price will most probably ranging within $100 before any significant move can happen as market starts to consolidate. Meanwhile, you could spend your fund on other active stock to make money instead of sitting in tencent till the chart has started to show sign of reversal.
Not recommend to trade, but recommend for hold for long term at current price.
If you look to invest for more than 6 months to a year, then good to build your first position in Tencent at current price and we might see 7xx in future (unknown timeline) .
However, if you are trading for quick profit, the current price will most probably ranging within $100 before any significant move can happen as market starts to consolidate. Meanwhile, you could spend your fund on other active stock to make money instead of sitting in tencent till the chart has started to show sign of reversal.
Not recommend to trade, but recommend for hold for long term at current price.
