Technical Analysis for TME - Tencent Music Entertainment Group

Grade Last Price % Change Price Change
grade B 12.92 5.64% 0.69
TME closed up 5.64 percent on Friday, May 29, 2020, on 5.53 times normal volume. The stock crossed above its 200 day moving average, improving its long-term outlook by crossing above that critical trendline. Note that the stock is in overbought territory based on its Slow Stochastic indicator (14, 3, 3) -- sideways movement or a pullback should not be unexpected.

Trend Table & Recent Signals

ADX Long Term Intermediate Term Short Term
Weak or Absent Up Up Up
Historical TME trend table...

Date Alert Name Type % Chg
Crossed Above 200 DMA Bullish 0.00%
Pocket Pivot Bullish Swing Setup 0.00%
Volume Surge Other 0.00%
Stochastic Reached Overbought Strength 0.00%
Overbought Stochastic Strength 0.00%
180 Bullish Setup Bullish Swing Setup 5.64%
200 DMA Resistance Bearish 8.12%
Non-ADX 1,2,3,4 Bullish Bullish Swing Setup 8.12%
Narrow Range Bar Range Contraction 8.12%
NR7 Range Contraction 8.12%

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Profile

Tencent Music Entertainment Group operates an online music entertainment platform that provides online music and music-centric social entertainment services in China. It offers QQ Music, Kugou Music, and Kuwo Music that enable users to discover and listen to music in personalized ways; and WeSing, which enables users to have fun by singing and interacting with friends, sharing their singing performances with friends, and discovering songs that others have sung. The company also operates Kugou Live and Kuwo Live that provides an interactive online stage for performers and users to showcase their talent and engage with those interested in their performance. In addition, it sells music-related merchandise, including Kugou M1 headsets, smart speakers, WeSing karaoke microphones, and Hi-Fi systems; and offers online music event ticketing services, as well as services to smart device and automobile makers to build and operate music services on devices and vehicles. The company was formerly known as China Music Corporation. The company was incorporated in 2012 and is based in Shenzhen, China. Tencent Music Entertainment Group is a subsidiary of Tencent Holdings Limited.
World Wide Web Websites Tencent Music Services

Is TME a Buy, Sell or Hold?

Indicator Bull Case Neutral / Hold Bear Case
50 DMA
200 DMA
ADX Trend
Oversold / Overbought
Relative Strength

Indicators

Indicator Value
52 Week High 16.74
52 Week Low 9.22
Average Volume 9,132,098
200-Day Moving Average 12.46
50-Day Moving Average 11.00
20-Day Moving Average 11.65
10-Day Moving Average 12.25
Average True Range 0.55
ADX 18.52
+DI 34.02
-DI 17.25
Chandelier Exit (Long, 3 ATRs ) 11.36
Chandelier Exit (Short, 3 ATRs ) 11.94
Upper Bollinger Band 13.12
Lower Bollinger Band 10.19
Percent B (%b) 0.93
BandWidth 25.08
MACD Line 0.39
MACD Signal Line 0.31
MACD Histogram 0.0754
Pivot Point Level Traditional / Classic Fibonacci Demark Woodie Camarilla
Resistance 4 (R4) 14.06
Resistance 3 (R3) 13.96 13.48 13.87
Resistance 2 (R2) 13.48 13.19 13.53 13.81
Resistance 1 (R1) 13.20 13.01 13.34 13.30 13.74
Pivot Point 12.72 12.72 12.79 12.77 12.72
Support 1 (S1) 12.44 12.43 12.58 12.54 12.10
Support 2 (S2) 11.96 12.25 12.01 12.03
Support 3 (S3) 11.68 11.96 11.97
Support 4 (S4) 11.78