$TME is breaking out of a multi month wedge like pattern
$TME looks to be coiling up and could potentially breakout running up to earnings. Beware this is a Chinese companies and there's a chance any China US tensions might present a failed breakout. MACD looking to cross positive and above the zero line Average True Range coming down to a low of around 0.3 - which is also the same level for when the stock broke out on...
$TME just broke $13.37 out with high volume. RSI is still below the trendline though. There might be a pull back but it is very strong for an upside rally. 12 months Consensus Price Target: $16.11 if you find my charts useful, please leave me "like" or "comment". Please don't trade according to the ideas, rely on your own knowledge. Thx
First off, please don't take anything I say seriously or as financial advice. As always, this on opinion basis. That being said, let us get into a few of my key points. Looking at the three drives pattern and current past correlations, I think the positive outlook conservatively for TME is a $12 target. Other things to keep in mind is that TME been called "China's...
pullback to SUPPORT @20MA/$14 correcting the Daily RSI and continuing BULL RUNNER!