TENCENT MUSIC ENTERTAINM-ADR (TME) Stock Technical Analysis
NYSE:TME - New York Stock Exchange, Inc. - US88034P1093 - ADR - Currency: USD
We assign a technical rating of 10 out of 10 to TME. Both in the recent history as in the last year, TME has proven to be a steady performer, scoring decent points in every aspect analyzed.
Both the short term and long term trends are positive. This is a very positive sign.
When comparing the yearly performance of all stocks, we notice that TME is one of the better performing stocks in the market, outperforming 93% of all stocks.
TME is one of the better performing stocks in the Entertainment industry, it outperforms 90% of 73 stocks in the same industry.
TME is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
In the last month TME has a been trading in the 19.74 - 22.50 range, which is quite wide. It is currently trading near the high of this range.
TME has an average volume of 6140350 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Besides having an excellent technical rating, TME also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is very little resistance above the current price. There is a support zone below the current price at 21.48, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for TME in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
More info and screens
12.78
22.35
We found 5 important support areas.
- A support zone ranging from 21.14 to 21.48. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 20.54 to 20.54. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @14.18 from a trend line in the weekly time frame.
- Support @13.89 from a trend line in the daily time frame.
- Support @12.91 from a trend line in the weekly time frame.
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 | UP | POSITIVE | The long term trend for TME is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for TME is up. |
| ChartMill Relative Strength | 93.9 | POSITIVE | TME has a high relative strength, it outperformed 93.9% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of TME is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of TME is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of TME is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 64.81 | NEUTRAL | The RSI value for TME is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.04 | NEGATIVE | The MACD value suggests TME has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 84.48 | OVERBOUGHT | The high Stochastics value suggests TME may be overbought. |
| Average True Range in percent/ATR (20) | 3.22 | MEDIUM VOLATILITY | The ATR as a percentage value for TME suggests some volalility. |
| Average Directional Index/ADX (14) | 29.98 | POSITIVE | The high ADX value value for TME suggests a strong trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 22.39 | 21.13 | 1.26 (5.63%) | 17.77% |
| An entry @22.39. This is a Buy Stop order right above the 10 day high. | An exit @21.13. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 1.26 points, which is 5.63%. | For a 1.00% total portfolio risk, you can invest 17.77% of your capital in this trade. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
22.13
+0.16 (+0.73%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorCommunication Services
GICS IndustryEntertainment
Performance
% Chg0.73%
1 Week7.74%
2 Weeks3.9%
1 Month11.82%
3 Month57.17%
6 Month76.48%
12 Month70.76%
2 Year224.49%
3 Year333.07%
5 Year41.59%
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.65
ATR(20)%3.22%
ATR Inc-6.47%
Range Today0.65
ADR(20)0.64
ADR(20)%2.9%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS93.9
Mansfield4.75
10 Day High22.38
10 Day Low20.06
20 Day High22.5
20 Day Low19.74
52 Week High22.5
52 Week Low9.41
CS1 End21.48
CR1 StartN/A
Volume & EV
DER(3)3.56%
DER(5)0.32%
Volume4.31M
Volume Incr-28.41%
Vol(5)4.35M
Vol(50)6.14M