On Wednesday, Tencent Music Ent ADR got a positive adjustment to its Relative Strength (RS) Rating, from 88 to 94.
IBD's unique RS Rating tracks market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the last 52 weeks matches up against other publicly traded companies.
Over 100 years of market history reveals that the best stocks often have an 80 or higher RS Rating as they launch their biggest climbs.
How To Use Stock Charts To Stay Profitable And Protected
Tencent Music Ent ADR is working on a consolidation with a 15.77 entry. See if it can clear the breakout price in heavy trade. Be aware that it's a third-stage base. Such patterns do sometimes lead to significant gains, but they're more likely to fail than earlier-stage consolidations.
While the company's top line growth fell last quarter from 11% to 5%, earnings-per-share grew 43%, up from 42% in the previous report.
The company earns the No. 2 rank among its peers in the Internet-Content industry group. Full Truck Alliance ADR is the top-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.
RELATED:
IBD Stock Rating Upgrades: Rising Relative Strength
Why Should You Use IBD's Relative Strength Rating?
How Relative Strength Line Can Help You Judge A Stock
Ready To Grow Your Investing Skills? Join An IBD Meetup Group!
