Long Position on TME @ $18.00 on 3/1/2019 (Momentum)

Tencent Music Entertainment Group (TME) operates an online music entertainment platform that provides online music and music-centric social entertainment services in China.

It offers QQ Music, Kugou Music, and Kuwo Music that enable users to discover and listen to music in personalized ways; and WeSing, which enables users to have fun by singing and interacting with friends, sharing their singing performances with friends, and discovering songs that others have sung.

The company also operates Kugou Live and Kuwo Live that provides an interactive online stage for performers and users to showcase their talent and engage with those interested in their performance.

In addition, it sells music-related merchandise, including Kugou M1 headsets, smart speakers, WeSing karaoke microphones, and Hi-Fi systems; and offers online music event ticketing services, as well as services to smart device and automobile makers to build and operate music services on devices and vehicles. The company was formerly known as China Music Corporation. 

Shares of this recent IPO have formed a bullish "cup and handle" and are on the cusp of the breaking out of this formation. Higher share prices are expeced for this stock.

Entry Point: $18.00

Stop Loss: $17.00

Trading Range: $11.81 - $18.86

Target Price: $19.80

Updates

5/15/2019 10:56:18 AM

TME closed at $14.50

Position closed on 5/15/2019 at price of $14.50 with a -19.44% loss in 75 days.

Back to Portfolio