Tencent Holdings (TCEHY: OTC)

Tencent Holdings (TCEHY) is gaining momentum, particularly as the regulatory environment in China becomes more favorable for the technology sector. A key tailwind for Tencent is the resumption of gaming license approvals, which has led to the successful launch of Dungeon & Fighter Mobile (DnF Mobile). The game has been a blockbuster, topping China’s download and revenue charts, generating $270 million in iOS revenue in its first 30 days.

Analysts are highly optimistic about Tencent’s gaming division, with DnF Mobile projected to generate between RMB 15–18 billion in revenue during 2024. Goldman Sachs analysts have called it Tencent’s most commercially successful new game in the last five years.

We are bullish on TCEHY above $47.00-$48.00, with an upside target of $70.00-$72.00.

Pegasystems (PEGA: NASDAQ)

Pegasystems (PEGA) is well-positioned to benefit from the increasing demand for AI-driven customer service solutions. Leveraging technologies like natural language processing and intelligent chatbots, Pegasystems helps companies improve their customer support, a growing market as businesses increasingly adopt AI to enhance user experiences and automate interactions.

CEO Alan Trefler expressed optimism about the company’s future, citing innovations in software development and expanded client relationships. The management is targeting the “Rule of 40” by the end of 2024, meaning that the combined revenue growth rate and free cash flow margin will hit at least 40%, which could drive strong interest from investors.

We are bullish on PEGA above $61.00-$62.00, with an upside target of $84.00-$86.00.

Ethereum (ETHUSD)

Ethereum’s price action is at a critical point again last week, as prices push into the former-support-turned-resistance zone of $2,600-$2,900. A break above this zone would strongly suggest that a significant low has been established. Ethereum is also attempting to re-enter the descending price channel, which has defined much of the year’s correction. If this turns out to be a false breakdown, we could see a sharp, explosive rally, in line with the saying, “From false moves, come fast moves.”

Comparing Ethereum to silver and Bitcoin to gold, Ethereum tends to act like a leveraged position relative to Bitcoin. If a genuine crypto rally is starting, Ethereum is likely to surge quickly, reflecting silver’s historical performance relative to gold.

Immutable (IMXUSDT)

IMX is showing promising signs following its recent breakout and is currently resting on support. The price action indicates strong momentum, with the moving averages beginning to trend upward, reinforcing the bullish outlook. This setup presents a good opportunity for traders looking to enter a long position.

The ideal entry point for this trade is around $1.733. To manage risk effectively, a stop-loss is set at $1.5, ensuring that potential losses are limited in case of a downside move.

For profit-taking, targets are established at $2 and $2.5, allowing traders to capitalize on the anticipated upward movement while maintaining a favorable risk-reward ratio. This strategy aligns with the overall strength observed in IMX and the supportive technical indicators.