As this happened, Morgan Stanley upgraded its Tencent Music Entertainment Group ADR [TME] rating to an Overweight from a an Equal-weight in a research note published recently. A number of analysts have revised their coverage, including Barclays’s analysts, who began to cover the stock in early November with a ‘”an Overweight”‘ rating. Bernstein began covering TME with “an Outperform” recommendation on November 04, 2024. Morgan Stanley revised its rating on September 25, 2024. It rated TME as “an Equal-weight” which previously was an “an Overweight”.
Price Performance Review of TME
On Tuesday, Tencent Music Entertainment Group ADR [NYSE:TME] saw its stock jump 15.54% to $15.09. Over the last five days, the stock has gained 23.59%. Tencent Music Entertainment Group ADR shares have risen nearly 32.95% since the year began. Nevertheless, the stocks have risen 44.40% over the past one year. While a 52-week high of $15.77 was reached on 03/18/25, a 52-week low of $9.41 was recorded on 01/13/25. SMA at 50 days reached $12.17, while 200 days put it at $12.32.
Levels Of Support And Resistance For TME Stock
The 24-hour chart illustrates a support level at 14.08, which if violated will result in even more drops to 13.08. On the upside, there is a resistance level at 15.71. A further resistance level may holdings at 16.34. The Relative Strength Index (RSI) on the 14-day chart is 68.77, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.68, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 7.02%. Stochastics %K at 62.73% indicates the stock is a holding.
How much short interest is there in Tencent Music Entertainment Group ADR?
A steep rise in short interest was recorded in Tencent Music Entertainment Group ADR stocks on 2025-02-28, growing by 2.4 million shares to a total of 23.02 million shares. Yahoo Finance data shows the prior-month short interest on 2025-01-31 was 20.63 million shares. There was a rise of 10.42%, which implies that there is a positive sentiment for the stock.
