Tencent Music Entertainment Group - ADR (TME) Stock: What Does the Chart Say Thursday?

The market has been high on Tencent Music Entertainment Group - ADR (TME) stock recently. TME gets a Bullish score from InvestorsObserver Stock Sentiment Indicator.

Tencent Music Entertainment Group - ADR has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on TME!

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What is Stock Sentiment?

Sentiment is a very short-term indicator that is entirely technical. There is no information about the health of profitability of the underlying company in our sentiment score. As a technical indicator, news about the stock, or company, such as an earnings release or other event, could move the stock counter to the recent trend. Recent trends are a good indicator of current market sentiments. In its most basic form, stocks that are trending up are desirable by investors while stocks currently falling must be unattractive. InvestorsObserver's Sentimental Indicator tracks both changes in price and volume to analyze the most recent trends. Typically an increase in volume indicates ongoing trends are getting stronger, while a decrease in volume usually signals an end to the current trend. Available options can also represent current sentiments for a given stock. Since investors are able to bet on future trends of stocks using options, we consider the ratio of calls to puts when analyzing market sentiments .

What's Happening With TME Stock Today?

Tencent Music Entertainment Group - ADR (TME) stock is trading at $4.93 as of 10:15 AM on Thursday, Jun 30, a decline of -$0.13, or -2.57% from the previous closing price of $5.06. The stock has traded between $4.83 and $5.05 so far today. Volume today is low. So far 2,934,775 shares have traded compared to average volume of 18,237,009 shares. To see InvestorsObserver's Sentiment Score for Tencent Music Entertainment Group - ADR click here.

More About Tencent Music Entertainment Group - ADR

TME is the largest online music service provider in China. It was founded in 2016 with the business combination of QQ Music (founded in 2005), Kuwo Music (founded in 2005) and Kugou Music (founded in 2004) streaming platforms. Tencent is the largest shareholder of TME with over 50% shares and over 90% voting rights held. TME also provides social entertainment services, including music live audio/video broadcasts and online concert services through the three platforms mentioned above, and online karaoke through an independent platform WeSing. Click Here to get the full Stock Report for Tencent Music Entertainment Group - ADR stock.