TENCENT MUSIC ENTERTAINM-ADR (TME) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:TME - US88034P1093 - ADR
Taking everything into account, TME scores 1 out of 10 in our technical rating. TME has been an average performer in the overall market. Also recent evolutions are not that positive: both the medium and short term time frames give negative signs.
- Both the long and short term trends are negative. It is better to avoid buying stocks with negative trends.
- In the last month TME has a been trading in the 16.07 - 18.73 range, which is quite wide. It is currently trading near the lows of this range.
- TME is part of the Entertainment industry. There are 80 other stocks in this industry. TME outperforms 74% of them.
- TME has an average volume of 5896250 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- When comparing the yearly performance of all stocks, we notice that TME is one of the better performing stocks in the market, outperforming 73% of all stocks. However, this overall performance is mostly based on the strong move around 7 months ago.
- TME is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so TME is lagging the market.
The technical rating of TME is bad and it also does not present a quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
16.43
We can see 3 important resistance areas.
- Resistance @16.75 from a trend line in the daily time frame.
- A resistance zone ranging from 17.48 to 17.86. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 18.48 to 18.72. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | DOWN | NEGATIVE | The long term trend for TME is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for TME is down. |
| ChartMill Relative Strength | 73.89 | POSITIVE | TME has a high relative strength, it outperformed 73.89% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of TME is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of TME is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | UP | MIXED | The current price of TME is below the rising SMA(200). |
| Relative Strength Index/RSI (14) | 36.41 | NEUTRAL | The RSI value for TME is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.02 | POSITIVE | The MACD value suggests TME has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 35.49 | NEUTRAL | The Stochastics value for TME is a neutral value. |
| Average True Range in percent/ATR (20) | 3.47 | MEDIUM VOLATILITY | The ATR as a percentage value for TME suggests some volalility. |
| Average Directional Index/ADX (14) | 24.4 | NEUTRAL | The ADX value for TME suggests a possible start of a new trend. |
16.6
-0.86 (-4.93%)
TENCENT MUSIC ENTERTAINM-ADR / TME FAQ
What is the technical rating for TME stock?
ChartMill assigns a technical rating of 1 / 10 to TME.
What is the current trend direction of TENCENT MUSIC ENTERTAINM-ADR (TME) stock?
The current trend direction for TENCENT MUSIC ENTERTAINM-ADR (TME) is Bearish.
What is the RSI signal for TENCENT MUSIC ENTERTAINM-ADR (TME) stock?
TENCENT MUSIC ENTERTAINM-ADR (TME) has an RSI value of 36.4089. This indicates that the stock is currently neutral.
What is the MACD signal for TENCENT MUSIC ENTERTAINM-ADR (TME) stock?
The MACD indicator for TENCENT MUSIC ENTERTAINM-ADR (TME) has a value of 0.0160521, indicating a bearish trend.
What are the support and resistance levels for TENCENT MUSIC ENTERTAINM-ADR (TME) stock?
TENCENT MUSIC ENTERTAINM-ADR (TME) has a resistance level at 16.75. Check the full technical report for our detailed analysis of TME support and resistance levels.