TENCENT MUSIC ENTERTAINM-ADR (TME) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:TME - US88034P1093 - ADR
Taking everything into account, TME scores 2 out of 10 in our technical rating. Although TME is scoring some points because its good overall performance in the market in the past year, recent evolutions are not that positive. Both the medium and short term picture give negative signs.
Although the technical rating is bad, TME does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period.
More info and screens
17.97
We found 1 important support area.
- Support @18.15 from a horizontal line in the weekly time frame.
2 important resistance areas can be observed.
- A resistance zone ranging from 18.22 to 18.72. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 20.68 to 20.89. This zone is formed by a combination of multiple trend lines and important moving averages in the daily 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 | 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 | 75.58 | POSITIVE | TME has a high relative strength, it outperformed 75.58% 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) | 35.21 | NEUTRAL | The RSI value for TME is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.14 | POSITIVE | The MACD value suggests TME has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 47.33 | NEUTRAL | The Stochastics value for TME is a neutral value. |
| Average True Range in percent/ATR (20) | 2.85 | MEDIUM VOLATILITY | The ATR as a percentage value for TME suggests some volalility. |
| Average Directional Index/ADX (14) | 39 | POSITIVE | The high ADX value value for TME suggests a strong trend. |
18.2
+0.05 (+0.28%)
TENCENT MUSIC ENTERTAINM-ADR / TME FAQ
What is the technical rating for TME stock?
ChartMill assigns a technical rating of 2 / 10 to TME.
Can you provide the trend direction for TENCENT MUSIC ENTERTAINM-ADR?
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 35.2114. This indicates that the stock is currently neutral.
Can you provide the MACD signal for TENCENT MUSIC ENTERTAINM-ADR?
The MACD indicator for TENCENT MUSIC ENTERTAINM-ADR (TME) has a value of 0.143462, indicating a bearish trend.
What is the buy/sell signal for TME stock?
The buy/sell signal for TENCENT MUSIC ENTERTAINM-ADR (TME) is sell as both the short term and long term trends are negative.