the movement of the last few months of TME seems to me to be delimited by two dynamic supports that converging form a triangle, if the dynamic support holds up it could return to the upper level first and try the upper breakout later, otherwise the lower break could bring the title back towards the lows
tme broke below extreme support at the start of December, since then it failed to break back above and has made lower highs.. all bearish signs.
also keep in mind this is a recent IPO, when I zoomed out there was no more signs of support left.. so be careful if long!
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A Flat formation is in order. This one is a switch from a previous massive zigzag - a law of alteration in practice! Where to from here. Probably not much lower than origin of B at most.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with...
I'm looking at a potential buy on TME with the potential for a nice gain. This is just my opinion and idea for a stock, and this is not financial advice . Let me know what you think and lets see what happens with the trade tomorrow.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that,...
2 possible bottom levels:
Level 1- 6.85 which it touched twice in the last 1 week.
Level 2 trendline touch, can be around 6-6.25, this level is very important as reversal can be started from here based on the history.
From this level i.e 6$, I am expecting a bounce to 9's range.
Fundamentally this stock is very cheap, 5B approx. sales expected in 2021 and 5.5B...
TME is creating a nice megaphone pattern, a bit dubious though considering horrible state of the world economy (and China "restructuring"), but the stock has already been hammered to death.
Tencent Music Entertainment Group operates online music entertainment platforms that provide music streaming, online karaoke and live streaming services in the People's Republic of China. Tencent Music Entertainment Group is a subsidiary of Tencent Holdings Ltd.
Revenue TTM 4.6B
Net Income TTM 640M
Net Margin TTM 13.7%
EBITDA Margin 15.8%
Many experienced investors look where most of people are not looking. Looking at TME chart it looks like trash if anything one may want to short it with such downward momentum. While in short term there is gain in shorting TME (At this time there are no good entry and exit point as the price is going through an uncharted territory). If you look at some education...
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Again, not all businesses that falls 77% from its peak are good business. You need to know the market ,its growth forecast down the road before picking up. If you are not comfortable, there are always other stocks to go bargain hunting.
Please do your own due diligence !
TME seems to found his support. Godd time to slowly buy in.
Watch the price action and buy step by step.
I expect we can fill the gap over the bigger time frame.
