On Thursday, Tencent Music Ent ADR received a positive adjustment to its Relative Strength (RS) Rating, from 80 to 85.
This exclusive rating from Investor's Business Daily tracks price action with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the last 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history reveals that the market's biggest winners typically have an RS Rating of above 80 in the early stages of their moves.
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Tencent Music Ent ADR has risen more than 5% past a 10.70 entry in a second-stage ascending base, meaning it's now out of a proper buy range. Look for the stock to offer a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week moving average.
While sales growth fell last quarter from 11% to 5%, EPS grew 43%, up from 42% in the prior report.
The company earns the No. 2 rank among its peers in the Internet-Content industry group. Full Truck Alliance ADR is the No. 1-ranked stock within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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