TME: Near the End of the Climb? Sellers Taking Control
TME (Tencent Music) has been moving higher inside a well-defined ascending channel, but the chart is flashing caution signals right now.
Technical Points:
Price has reached the top of the channel, a level that historically triggered pullbacks.
Recent candles show weakness - upper wicks, lower volume, and hesitation near resistance.
Significant gap from the 20 EMA (≈20.20$), increasing the odds of a pullback.
A likely scenario: rejection at the current level and a move back toward the channel's midline (≈23$) or even the EMA zone.
Bottom line:
The upside looks limited here, while the risk of a reversal is rising sharply. A breakout would require strong volume, otherwise sellers may push this lower.
Technical Points:
Price has reached the top of the channel, a level that historically triggered pullbacks.
Recent candles show weakness - upper wicks, lower volume, and hesitation near resistance.
Significant gap from the 20 EMA (≈20.20$), increasing the odds of a pullback.
A likely scenario: rejection at the current level and a move back toward the channel's midline (≈23$) or even the EMA zone.
Bottom line:
The upside looks limited here, while the risk of a reversal is rising sharply. A breakout would require strong volume, otherwise sellers may push this lower.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.