TME Consolidates After Rally, Eyes $22–32 Target

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In late 2022, TME posted its first breakout, climbing to an average of $7.50.

A sustained rally through 2023–2024 drove the price above $15, with the mean level around $11.

Since mid-2024, the stock has been consolidating at these levels, holding firm above both the 30- and 50-period EMAs as well as VWAP. However, volume has yet to pick up meaningfully in this zone. Should the move toward $15 resume, increased volume could spark another breakout.

The next upside target lies in the $22–$32 range.

Penafian

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