TENCENT MUSIC ENTERTAINM-ADR (TME) Stock Technical Analysis
USA - NYSE:TME - US88034P1093 - ADR
Taking everything into account, TME scores 3 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.
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.
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17.50
2 important resistance areas can be observed.
- Resistance @22.01 from a trend line in the daily time frame.
- Resistance @23.46 from a horizontal line 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 | NEUTRAL | NEUTRAL | The long term trend for TME is neutral. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for TME is down. |
| ChartMill Relative Strength | 82.02 | POSITIVE | TME has a high relative strength, it outperformed 82.02% 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) | 22.41 | OVERSOLD | The low RSI value suggests TME may be oversold. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.33 | NEGATIVE | The MACD value suggests TME has a negative trend. |
| Stochastics (14,3) | 9.19 | OVERSOLD | The low Stochastics value suggests TME may be oversold. |
| Average True Range in percent/ATR (20) | 4.86 | MEDIUM VOLATILITY | The ATR as a percentage value for TME suggests some volalility. |
| Average Directional Index/ADX (14) | 34.96 | POSITIVE | The high ADX value value for TME suggests a strong trend. |
17.68
-1.05 (-5.61%)
TENCENT MUSIC ENTERTAINM-ADR / TME FAQ
What is the technical rating for TME stock?
ChartMill assigns a technical rating of 3 / 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 22.4061. This indicates that the stock is currently oversold.
Can you provide the MACD signal for TENCENT MUSIC ENTERTAINM-ADR?
The MACD indicator for TENCENT MUSIC ENTERTAINM-ADR (TME) has a value of -0.32624, indicating a bearish trend.