Tencent Music (TME) shares of the China name are forming a coiling spring pattern right off the 55-day MA as the rising moving average has caught up to price action after a strong rally seen in May and now into the apex of the flag. TME has the top of its narrow monthly value area at 14.60 and a close above likely brings a swift move back to the former high of 15.75 while an extension target of the range can see 16 from here which is a solid 11% move if it came. The China stocks have been laggards but don’t tell TME that, it has risen +60% so far YTD and looks poised for more. Options flows are mixed with recent opening sales of 2500 August $14 puts and 2k January $13 puts while also seeing 5k January $16 calls sold to open at $1.57 back on 5/29 and still in OI. The buyer of July $10 deep ITM calls still holds 5000 in OI.