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Tencent Music Entertainment
Tencent Music Entertainment Group (TME) (NYSE: TME) announced an exclusive partnership with Cooking Vinyl, a European pioneer independent record company. Under this agreement, Cooking Vinyl’s music will be available across TME’s music platforms – QQ Music, Kugou Music, Kuwo Music, and WeSing.
As a pioneer and leader in China’s online music entertainment industry with over 800 million monthly active users, TME will leverage its strengths in digital music content scouting, promotion, distribution and creation to help Cooking Vinyl with music copyright digitalization. TME will also provide support in music, audio and video content, performances, social entertainment and other fields. TME will maximize the potential value of this cooperation to introduce Cooking Vinyl’s artists and effectively meet the needs of music lovers for original music and indie music.
Established in 1986, Cooking Vinyl is a truly global operation with a presence in more than 40 countries, which enjoys a role as the creative hub for coordinated worldwide artist campaigns and worldwide sales, marketing and distribution strategies. It has supported million-selling successes including Marilyn Manson, The Cranberries, The Prodigy, Passenger and Nina Nesbitt, and multiple Grammy Awards winners. Cooking Vinyl produces widely appreciated music content covering folk, rock, punk, electronic and alternative music.
“The world spotlight is opening up opportunities for non-Anglo-American music and this is the perfect time to enter into this co-operation with TME,” said Martin Goldschmidt, Chairman of Cooking Vinyl, “TME is the perfect partner for Cooking Vinyl to develop our artists and labels in China and bring our eclectic and diverse music to the Chinese audience. As China increases its importance in the global music market, musicians have attached greater attention to China. Cooking Vinyl is looking forward to delivering the spirit of indie music to a broader audience in various forms with TME.”
An official director of TME said, TME has long invested in and supported original and emerging music. Cooking Vinyl champions the music and careers of artists, and gives artists freedom in content creation, which is aligned with the values of TME. TME will work with music labels and musicians to create content together. Through the mature online and offline operation and interaction channels established in the digital music entertainment field over the years, TME can empower excellent indie musicians and guide these unique artists to shine.
With its robust music ecosystem and customized promotion, distribution and an operation model precisely guided by data, TME has provided outstanding musicians with performance opportunities for their music in various online and offline forms. The strategic cooperation with Cooking Vinyl not only provides a larger stage for its artists, but also empowers classic labels to unleash their potential and infuse fresh blood into their music and artist pools.
TENCENT MUSIC ENTERTAINMENT GROUP operates online music entertainment platform and music applications in China.
The Company’s platform comprises online music, online karaoke and music-centric live streaming services, supported by content offerings, technology and data.
The Company’s main platform includes QQ Music, Kugou Music, Kuwo Music, WeSing, Kugou Live, Kuwo Live and others.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 15.99.
The projected lower bound is: 13.52.
The projected closing price is: 14.76.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 25 white candles and 24 black candles for a net of 1 white candles.
Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 17.4699. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 4 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 40.07. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 23 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -239.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 4 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 19 period(s) ago.
Rex Takasugi – TD Profile
TENCENT MUSIC closed down -0.520 at 14.720. Volume was 7% below average (neutral) and Bollinger Bands were 35% narrower than normal.
Open High Low Close Volume 15.170 15.170 14.430 14.720 2,653,794
Technical Outlook Short Term: Oversold Intermediate Term: Bearish Long Term: Bullish
Moving Averages: 10-period 50-period 200-period Close: 15.83 14.77 12.78 Volatility: 40 52 51 Volume: 1,984,855 3,088,448 2,363,940
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
TENCENT MUSIC is currently 15.2% above its 200-period moving average and is in an downward trend. Volatility is low as compared to the average volatility over the last 10 periods.
Our volume indicators reflect volume flowing into and out of TME.N at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on TME.N and have had this outlook for the last 3 periods.