TENCENT MUSIC ENTERTAINM-ADR (TME) Technical Analysis
NYSE:TME • US88034P1093
Current stock price
TME Technical Rating and Analysis
Taking everything into account, TME scores 0 out of 10 in our technical rating. TME's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.
- The short term trend is negative, as is the long term trend. There should be more interesting stocks out there.
- When comparing the yearly performance of all stocks, TME is a bad performer in the overall market: 92% of all stocks are doing better.
- TME is part of the Entertainment industry. There are 79 other stocks in this industry, of which 70% are performing better than TME.
- TME is currently trading near the lower end of its 52 week range, which is not a good sign. The S&P500 Index is trading in the upper part of its 52 week range, so TME is lagging the market.
- In the last month TME has a been trading in the 9.86 - 15.46 range, which is quite wide. It is currently trading near the lows of this range.
- Prices have been falling strongly lately, it is better to avoid new long positions here.
- Volume is considerably higher in the last couple of days. In combination with the strong move down this is a bad signal.
- TME has an average volume of 8683960 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
TME Weekly and Daily overview Charts
TME Setup Rating and Analysis
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
TME Support and Resistance Analysis
9.86
We found 1 important support area.
- A support zone ranging from 9.96 to 9.96. This zone is formed by a combination of multiple trend lines in multiple time frames.
We can see 2 important resistance areas.
- A resistance zone ranging from 14.50 to 14.63. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 15.13 to 15.34. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
TME Technical Indicator Signal Analysis
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 | 8.36 | NEGATIVE | TME has a low relative strength, it was outperformed by 91.64% 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) | DOWN | NEGATIVE | The current price of TME is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 24.69 | OVERSOLD | The low RSI value suggests TME may be oversold. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.36 | NEGATIVE | The MACD value suggests TME has a negative trend. |
| Stochastics (14,3) | 4.58 | OVERSOLD | The low Stochastics value suggests TME may be oversold. |
| Average True Range in percent/ATR (20) | 7.72 | HIGH VOLATILITY | The high ATR as a percentage value for TME suggests high volalility. |
| Average Directional Index/ADX (14) | 36.56 | POSITIVE | The high ADX value value for TME suggests a strong trend. |
TME Chart- and CandleStick Pattern Analysis
TME Technicals: Chart, Performance Metrics, Trend & Indicators
9.97
-0.12 (-1.19%)
TENCENT MUSIC ENTERTAINM-ADR / TME TA FAQ
What is the technical rating for TME stock?
ChartMill assigns a technical rating of 0 / 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 24.6928. This indicates that the stock is currently oversold.
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 -0.364612, 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 support level at 9.96 and a resistance level at 14.5. Check the full technical report for our detailed analysis of TME support and resistance levels.