Question 1

What implications does the 10-day RSI indicator have for TME?

Accepted Answer

The RSI Indicator shows that the ticker has stayed in the oversold zone for 4 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an Uptrend is expected.

Question 2

What does the Stochastic Oscillator suggest about TME's trend?

Accepted Answer

The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 3 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.

Question 3

What is the significance of the 10-day moving average indicator for TME?

Accepted Answer

The 10-day moving average for TME crossed bearishly below the 50-day moving average on July 30, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In 10 of 12 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 0%.

Question 4

What does a 3-day decline signify for TME's future price movement?

Accepted Answer

Following a 3-day decline, the stock is projected to fall further. Considering past instances where TME declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 0%.

Question 5

What does TME breaking above its upper Bollinger Band indicate?

Accepted Answer

TME may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.

Question 6

How does the Aroon Indicator reflect on TME's trend?

Accepted Answer

The Aroon Indicator for TME entered a downward trend on August 19, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.

TME Stock Tencent Music Entertainment Group (TME, $13.34) RSI Indicator left the overbought zone on May 07, 2024

TME in downward trend: 10-day moving average moved below 50-day moving average on July 30, 2024

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