Tag: Meituan-W

MEITUAN-W   Stock Code 3690.HKE

Outlook

Price broke and closed above the cloud during the last trading session, turning the stock outlook from bearish to bullish. The Lagging Span is above the cloud and the price of 26 days ago, confirming the bullish trend. There was a bullish Conversion and Base lines crossover that hints at potential upside ahead. The MACD is bullish and is moving higher. We are likely to see price continuing its upward momentum to move higher to HK$310.47.

Strategy

$277.40              Buy

$310.80              Price Target

$258.10              Risk Management Stop

2 weeks             Trade Duration

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