TME Price Prediction Next Week
Technical Analysis: TME's stock has shown strong bullish momentum, with the price surging from $10.14 to $14.38 in recent trading sessions. The RSI-14 reading of 71.55 indicates overbought conditions, suggesting potential short-term consolidation.
Price Levels Analysis:
- Fibonacci support levels: S1: $12.20, S2: $11.56, S3: $10.53
- Fibonacci resistance levels: R1: $14.27, R2: $14.91, R3: $15.94
- Current price ($14.46) is testing R1 resistance
Moving Average Analysis:
- Price trading above all major moving averages (5,10,20,60,200,250)
- Strong uptrend confirmed with SMA 5 (13.51) > SMA 10 (13.04) > SMA 20 (12.45)
- Bollinger Bands show price near upper band (14.67), indicating strong momentum
News Sentiment: TME stock gained significant attention after rising 12.70% amid optimism from President Xi's support and DeepSeek AI boost. The company has maintained positive momentum with continued institutional interest.
Price Prediction for Next Week: Based on technical indicators and recent momentum:
- Bullish scenario (60% probability): Price breaks R1 ($14.27) and targets R2 ($14.91)
- Consolidation scenario (30% probability): Price consolidates between $13.50-$14.30
- Bearish scenario (10% probability): Price pulls back to first support at $12.20
Trading Recommendation: SELL
- Current overbought conditions and price near resistance suggest taking profits
- Optimal selling range: $14.40-$14.90
- Set stop-loss at $15.00 if holding positions
- Wait for pullback to $12.20-$13.00 range for new long positions
TME Similar Chart Price Prediction
The price of TME is predicted to go up -49.25%, based on the high correlation periods with LGHL. The similarity of these two price pattern on the periods is 97.47%.
TME
LGHL
Down: -49.25%Similarity: 97.47%
TME Revenue Forecast
TME EPS Forecast
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TME VS S&P500
Compared with Spotify, TME has plenty of room for subscriber growth that should come about as it moves more music content behind the paywall.
TME piggybacks off Tencent's billion-plus user network. This relationship allows for better retention of users while attracting new ones.
By investing in independent artists and long-form audio, TME could better manage content cost over the long term.
TME Analyst's Forecast
Alex Poon
Morgan Stanley
Hold → Buy
2025-01-21
Price Target
$13
Upside
+17.12%
Morgan Stanley upgraded Tencent Music to Overweight from Equal Weight with an unchanged price target of $13, 25% upside. The firm sees "emerging value" from the company's "resilient operations and defensive nature" following the recent share price underperformance. Tencent Music is an "underappreciated defensive play" amid the market's macro concern, the analyst tells investors in a research note. Morgan Stanley believes the company is on track to reach its net additions target.
Jiong Shao
Barclays
Buy
2024-11-06
Price Target
$16
Upside
+37.69%
Boris Van
Bernstein
Buy
2024-11-04
Price Target
$14
Upside
+24.33%
