MEITUAN-W Stock Code 3690.HKE
Outlook
On Monday, price broke and closed above the Flag chart pattern, which is a continuation pattern. It means price is likely to resume its uptrend before the chart pattern. There is a bullish Conversion and Base lines crossover that hints for potential upside ahead. The Base line is acting as support at the moment. The MACD is moving higher above the zero line, suggesting an increased upward momentum. We could see price continuing to move higher to HK$348.65.
Strategy
$308.00 Buy
$348.80 Price Target
$290.00 Risk Management Stop
2 weeks Trade Duration
