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Hong Kong stocksMarket Updates

Zengame Technology Holding Ltd: Technical Breakout Signals Strong Upside Potential

Posted on October 8, 2024 at 1:36 pm (GMT+8)

Date: October 8, 2024
Broker: CGS International Securities Pte. Ltd.

Company Overview
Zengame Technology Holding Ltd is a technology company listed on the Hong Kong Stock Exchange. The company focuses on developing and publishing mobile games and is known for its innovative offerings in the gaming sector.

Stock Performance and Technical Analysis
Zengame Technology Holding Ltd is currently positioned as a technical buy with promising price movement. The stock’s technical indicators suggest a strong potential for upward movement based on the following factors:

Entry Prices:
- 3.33, 2.90, 2.50
Stop Loss:
- 2.28
Target Prices:
- Target 1: 4.00
- Target 2: 4.80
- Target 3: 6.60
- Target 4: 8.40

Support and Resistance Levels

The stock has multiple entry points, with the first at 3.33 and a stop-loss level of 2.28.
Zengame is poised to test multiple resistance levels, with its first resistance target at 4.00, followed by potential higher targets up to 8.40.

Outlook and Recommendations
The technical analysis suggests a buying opportunity based on its current entry points. The stock’s potential for reaching the higher price targets makes it an attractive investment in the technology and gaming sector.

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