TME stock: buy or sell
Updated on:
Jan 18th, 2021
2
TME stock brief
- Tencent Music Entertainment Group Americ grew a 2.35% after marking new all-time highs last Friday
- The price is currently over the upper Bollinger band, which usually indicates a short-term correction
- Tencent Music Entertainment Group operates online music entertainment platforms that provides music streaming, online karaoke, and live streaming services in the People's Republic of China.
Should I buy Tencent Music Entertainment Group Americ stock?
All successful traders recommend adhering to a trading strategy and not make decisions based on subjective opinions, rumors or feelings. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best
Is $TME stock a buy?
Currently, Tencent Music Entertainment Group Americ stock doesn't match any of these trading strategies, so our recommendation is not to buy now. This doesn't mean $TME will slide in coming sessions, or it will not rise higher. Simply, it doesn't match our recommended trading systems
Should I sell Tencent Music Entertainment Group Americ stock?
When you own a stock with some profit, it's really difficult to decide the correct moment to sell and get your profits. Much like when we have to buy shares, determining when is appropiate time to sell is not a random decision, and we must adhere our own trading style. Our trading system selects very simple setups to guide us on when is a good time to sell a stock. Be aware that these setups are not intended for shorting $TME stock
A guiding principle is that you should never mantain a trading operation that generates higher than expected losses at the time of purchase. When to sell your stock always has to be ruled by the stop-loss (automatic or manual)
Is it time to sell Tencent Music Entertainment Group Americ stock?
Currently, Tencent Music Entertainment Group Americ stock doesn't match any of our preferred sell setups, so if you hold Tencent Music Entertainment Group Americ shares and your operation is in profit probably is not time to sell now
Tencent Music Entertainment Group Americ ratings
In the last month, just one rating was published for Tencent Music Entertainment Group Americ
| Brokerage firm | Rating |
|---|---|
| Dec 23rd, 2020 | |
| Needham & Company LLC | |
Tencent Music Entertainment Group Americ stock analysis
Last November, the price broke out above the previous top at $15.12 on the downtrend started in July 2020. Since then, the price action resulted in a 46.89% profit.
$TME at All-time Highs
Tencent Music Entertainment Group Americ did it again, and marked new all-time highs (ATH) last Friday at $22.48. Stock smashed new all-time highs 3 times in the last 2 weeks
SMAs overview
Supports and resistances
Price is at all-time highs and there are not upper resistance levels.
The current support levels are:
Bollinger bands
Price readings both above or below the Bollinger Bands signal that the price has has trended strongly to extreme highs or lows. In this case, the price is beyond the upper band, which should mean a possible near-term corrective movement (at least) until it is under the band
Relative strength index
Climbed above the overbought line last Friday, marking a value of 76.94. The fact that the value is in the overbought zone does not imply a sell signal, as stock price can rise during several weeks being above 70
Tencent Music Entertainment Group Americ stock price history
Tencent Music Entertainment Group Americ went public priced at an adjusted price1 of $14.10 on Dec 2018. Since then, TME stock has risen by 57.52%, with an average of 28.76% per year. If you had invested $1,000USD in Tencent Music Entertainment Group Americ stock at that time, it would be valued $1,575.18 today.
1: Adjusted price after possible price splits or reverse-splits
Price target for Tencent Music Entertainment Group Americ stock
Nobody can predict how much a share will be priced tomorrow. Banks and financial organisations issue their analysis forecasting how a stock will performance in the future.
The following table shows the price forecasts published by financial institutions in the last month. If you are a small trader you don't have to trade based on these forecasts.
There is just one price target issued for Tencent Music Entertainment Group Americ that forecasts a price of $21.00.
| Brokerage firm | Price target |
|---|---|
| Dec 23rd, 2020 | |
| Needham & Company LLC | $17.00 → $21.00 |
Earnings and financials
Financial call was hosted by Tencent Music Entertainment Group Americ ($TME) last November after presenting the earnings report. TME posted earnings of $0.12 per share on sales of $1.1 billion. The market estimate was $0.11 per share on revenue of $1.1 billion.
This compares to Earnings of $0.74 per share same quarter last year, so current EPS means a decrease of -83.78%. Revenue exploded a 16.41% on an annualized basis in the , from $65.1B to $75.8B last quarter.TME ($TME) is hosting the quarterly earnings call next March.
Tencent Music Entertainment Group Americ performance
| Company | 1m | 3m | 6m |
|---|---|---|---|
| Tencent Music Entertainment Group Americ ($TME) | 19.50% | 56.20% | 40.90% |
Important:
The thoughts written in this article are personal and not recommendations for you to buy or sell shares. The author of this document does not know the specific scenarios of the reader, his or her finances or what is in his or her best interest at any given time. All users should speak with their financial advisor before buying or selling any securities Viewpoints are posted for education reasons onlyTME summary
| Friday, January 15th, 2021 | |
|---|---|
| Open | $21.7 |
| Close | $22.21 |
| Day range | $21.55 - $22.48 |
| Previous close | $21.7 |
| Session gain | 2.35% |
| Average true range | $0.95 |
| 50d mov avg | $17.93 |
| 100d mov avg | $16.47 |
| 200d mov avg | $14.88 |
| Earnings date | March 15th, 2021 |