TENCENT MUSIC ENTERTAINM-ADR (TME) Stock Technical Analysis
NYSE:TME - US88034P1093 - ADR
24.52 USD
-0.38 (-1.53%)
24.5 USD
-0.02 (-0.08%)
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.
The long and short term trends are both positive. This is looking good!
Looking at the yearly performance, TME did better than 96% of all other stocks. We also observe that the gains produced by TME over the past year are nicely spread over this period.
TME is part of the Entertainment industry. There are 75 other stocks in this industry. TME outperforms 95% of them.
TME is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so TME is lagging the market slightly.
TME has an average volume of 6610600 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
In the last month TME has a been trading in the 20.89 - 26.54 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Volume is considerably higher in the last couple of days.
TME has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is very little resistance above the current price. There is a support zone below the current price at 24.51, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
14.37
26.49
4 important support areas can be observed.
- A support zone ranging from 24.35 to 24.51. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @22.95 from a trend line in the daily time frame.
- A support zone ranging from 21.94 to 22.26. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @14.52 from a trend line in the weekly time frame.
We found 1 important resistance area.
- Resistance @26.23 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 | 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 | 96.2 | POSITIVE | TME has a high relative strength, it outperformed 96.2% 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) | 56.62 | NEUTRAL | The RSI value for TME is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.15 | NEGATIVE | The MACD value suggests TME has a negative trend. |
| Stochastics (14,3) | 54.07 | NEUTRAL | The Stochastics value for TME is a neutral value. |
| Average True Range in percent/ATR (20) | 3.76 | MEDIUM VOLATILITY | The ATR as a percentage value for TME suggests some volalility. |
| Average Directional Index/ADX (14) | 32.28 | 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 |
|---|---|---|---|
| 25.35 | 24.42 | 0.93 (3.68%) | 25.00% |
| An entry @25.35. This is a Buy Stop order right above the 10 day moving average. | An exit @24.42. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 0.93 points, which is 3.68%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.92%. |
- The distance between exit and entry is rather small compared to the average daily movement of TME. Please evaluate whether better entry and exit points can be found.
- 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.
24.52
-0.38 (-1.53%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorCommunication Services
GICS IndustryEntertainment
Performance
% Chg-1.53%
1 Week-3.27%
2 Weeks-4.03%
1 Month19.38%
3 Month45.61%
6 Month101.15%
12 Month134.87%
2 Year259.53%
3 Year379.84%
5 Year56.88%
10 YearN/A
15 YearN/A
Volatility
ATR(14)1.01
ATR(20)%3.76%
ATR Inc-18.34%
Range Today0.68
ADR(20)0.77
ADR(20)%3.16%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS96.2
Mansfield5.37
10 Day High26.32
10 Day Low24.43
20 Day High26.54
20 Day Low20.9
52 Week High26.54
52 Week Low9.41
CS1 End24.51
CR1 Start26.23
Volume & EV
DER(3)-1.77%
DER(5)-0.95%
Volume7.16M
Volume Incr65.03%
Vol(5)10.20M
Vol(50)6.61M