Published on Mon, 09/12/2011 - 12:14
By Adrienne Chilton in Market movers, TCTZF, market movers, nasdaq:tctzf, tencent holdings

Down 5.2% to $22.40, Tencent Holdings (NASDAQ:TCTZF), is one of today's notable movers. The S&P is currently trading 1.1% lower to 1,142 and the Dow Jones Industrial Average is trading 1.2% lower to 10,866.

In the past 52 weeks, Tencent Holdings share prices have been bracketed by a low of $19.05 and a high of $29.35 and are now at $22.40, 18% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.6%.

Tencent Holdings (NASDAQ:TCTZF) has a potential upside of 33.2% based on a current price of $22.40 and analysts' consensus price target of $29.84. The stock should find initial resistance at its 50-day moving average (MA) of $25.04 and further resistance at its 200-day MA of $25.17.

Tencent Holdings Limited provides Internet, mobile, and telecommunication value-added services in China. The Company has an instant messaging community in China. Tencent also provides online advertising services.