Tencent Music Entertainment: reason to rejoice?

by Sentiment Analyst |

What does the RSI show for Tencent Music Entertainment?

The Relative Strength Index (RSI) is a well-known tool from technical analysis to assess whether a stock is currently “overbought” or “oversold”. This puts price movements over time in relation to each other. We look at the RSI on a 7-day and 25-day basis for Tencent Music Entertainment. Let’s start with the 7-day RSI, which is currently 55.19 points. This means that Tencent Music Entertainment is neither overbought nor -sold at the moment. Thus, the stock is rated as a “hold”. How does the 25-day RSI look? Again, Tencent Music Entertainment is neither overbought nor -sold (value60.32), thus the stock also receives a “Hold” rating for the RSI25. The bottom line is that Tencent Music Entertainment is rated “Hold” for this point in our analysis.

Current Price Technical Analysis

The 200-day line (GD200) of Tencent Music Entertainment is currently at HKD15.57. This gives the stock a “Sell” rating, insofar as the share price itself exited trading at HKD14.42, establishing a gap of -7.39 percent. The relationship is different against the moving average price of the past 50 days. The GD50 has currently assumed a level of 11.21 HKD. This, in turn, corresponds to the current difference of +28.64 percent for Tencent Music Entertainment shares, which is a “buy” signal. Accordingly, the overall finding based on the two periods is “Hold”.

Investors are in high spirits

A look at the discussion on social media shows the following pictureMarket participants were basically mostly positive about Tencent Music Entertainment in recent days. There were a total of nine positive days and five negative days. The latest news about the company in the past one or two days is also mainly positive. Based on our sentiment analysis, Tencent Music Entertainment therefore receives a “buy” rating. Overall, Tencent Music Entertainment receives a “buy” rating from the editors for investor sentiment.