Expecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
This is an analysis for a client. Price is reacting at a key monthly support. Stochastic is on support where price bounced in the past as well. Please do your own due diligence. Losses can happen so please understand your risks and investment objectives first.
Expecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
Meituan in my opinion. Steady trend line going up. Even if there is a possible H&S, I am aiming for AT LEAST 380 level. SL 240.
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Meituan is breaking previous swing high and is on the way of a impulsive wave 5!
Read latest article here So, the Chinese government is out again bashing some of the local big Tech firms and Meituan Dianpin is not spared along with Alibaba, Tencent , etc. I am awaiting for the selling to ease and show the next round of bullish signals before adding more.
Meituan is forming a nice descending triangle pattern and is currently waiting for breakout from the descending triangle ! if price could closes belowe the horizontal support line where it has tested 3 times before, we might see a further drop towards the downside !
Meituan sell-off to key graphical support level !
HKEX:3690 One of the hottest HK stocks 3690 has just broken up the short term trend line with a good momentum. A buy setup with 1:3 risk to reward ratio is possible. Put the stop loss right below the weekly low which is 293 and tp target will be the previous historical high 338.2 Stay tune for the update:)
Meituan is trading in a triangular squeeze and is ready to bounce from the lower band of the price action. Before a upward breakout, price is likely to reach the previous swing high first, which we use as our TP.
Key level at 323.6% expansion level needs to be cleared To confirm further upside. However, I think there the possibility is strong.
ENTRY: 280 TP: 303 SL: 275 - ADX<20 today (28 Oct 2020) - RSI<65 today (28 Oct 2020) - Would like ADX>25 and RSI>70 though - MAs are aligned - Decent volume breakup from C&H - Risker trade based on personnel view
Meituan has fallen almost 20% from its peak at 279 and is now being supported at 227.60. I am adding more at this level and believe it would continue to trend higher.
Macro: Chinese leading indicators expanding/ recovering Chinese consumer returning to norm Global innovation theme taking off Sector: Consumer cyclicals preferred Technology focused Stock: 3Q seasonality good for Meituan Mid Autumn Festival pent up consuemr spending Potential HSI inclusion (fingers crossed) Technicals: General uptrend intact (Moving averages &...
Meituan no doubt is going strong on an uptrend but the failure to clear above the high last week signal that the ABC correction has arrived and as such, we are betting on the stock to make a lower price zone to stage a rebound