Tencent Music Ent ADR had its Relative Strength (RS) Rating upgraded from 68 to 75 Wednesday — a welcome improvement, but still short of the 80 or better score you look for.
IBD's proprietary rating tracks market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the trailing 52 weeks compares to all the other stocks in our database.
Over 100 years of market history shows that the top-performing stocks typically have an 80 or higher RS Rating as they begin their largest climbs. See if Tencent Music Ent ADR can continue to show renewed price strength and clear that threshold.
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Tencent Music Ent ADR is now considered extended and out of buy range after clearing a 10.70 buy point in a second-stage ascending base. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
Regarding top and bottom line numbers, Tencent Music Ent ADR has posted four quarters of accelerating earnings growth. Revenue growth has also moved higher over the same time frame.
The company earns the No. 9 rank among its peers in the Internet-Content industry group. Meta Platforms, Alphabet Cl C and Alphabet Cl A are among the top 5 highly rated stocks within the group.
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