LONG 3690 (Meituan)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.
MPNGF trade ideas
MeituanMeituan 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.
3690 (HKX) - Be carefull for HnSGreetings
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Analysis
3690 (HKX) - Be carefull for HnS
Meituan is breaking previous swing high and is on wave 5! Meituan is breaking previous swing high and is on the way of a impulsive wave 5!
Opportunity or Threat ?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 waiting for breakout from the descending triangle ! 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 !
3690 brokeout the short term trendline 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 ready to make another bounce ! 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 Key level at 323.6% expansion level needs to be cleared To confirm further upside. However, I think there the possibility is strong.
3690.HKEX_ST LongENTRY: 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
The fisherman takes it allMeituan 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.
Meituan BreakoutMacro:
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 & rising OBV)
Ascending Triangle
Corrective ABC regular flatMeituan 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
Meituan Fall fall pls :PMaybe I am too pessimist, but I think there is no room for ATH again. I hope it will fall at least until earnings report.
Meituan symmetrical triangleFor me, now the market is not stable. Because of the US-China situation and COVID-19. Could this bounce on support?
Meituan Dianping (3690 - HK) - Impulse wave patternMeituan Dianping (3690 - HK) is now in 4th internal wave of 5th wave up in 60 min, which is the part of daily wave 5 up. One more high should be there to complete the wave sequence will come to around 142-145 level. Also it may possible to extend this move.
Meituan Dianping (3690 - HK) - Impulse wave patternMeituan Dianping (3690 - HK) is a Retail stock from Services sector in Hong Kong, which is out-performing and at all time high. From the major bottom shown in Daily chart it made an impulse five wave up sequence, in which it is in it’s 5th wave up. In 30 min time frame, price is in 4th wave correction and sharp as alternating with wave 2nd was choppy. Today is its earning day, so if it retains 116 level then it will go for new high above 145 level. Let’s see how chart unfolds.
Inverse H&SIt was a pretty obvious bull signal. But I think its relatively overvalued and I would consider shorting if the support lime drawn on the chart is broken. TP will be 105.
