Follow up of Meituan

2022-07-04

Back with another update on $MEITUAN-W(03690)$

Price is now moving in a wedge. expecting price break to the upside. last post still valid.

With price moving above the ichimoku cloud and the current bullish trend, Im looking to get in on a buy position at the horizontal pullback support where the 23.6% Fibonacci retracement and ichimoku support is. Looking to play it back to the horizontal swing high in line with the 78.6% Fibonacci retracement. Alternatively, price may break structure and head for my stop loss where the next horizontal pullback support and 38.2% fibonacci retracement are.

Entry: 185.4[Smile]

Take profit: 212.8[Cool]

Stop loss: 175.6[Cry]

$Meituan 5xShortSG220216(DZXW.SI)$

$Meituan 5xLongSG220808(DMGW.SI)$

Technical Analysis

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Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

PandoraHaggai
2022-07-06
PandoraHaggai
This post gave me a reference, thanks for sharing.
nimbly
2022-07-04
nimbly
MEITUAN is a good company.The price is very cheap now.
MortimerDodd
2022-07-05
MortimerDodd
Great post, looking forward to your next post.
cheerzy
2022-07-04
cheerzy
Still holding MEITUAN.
snugglo
2022-07-04
snugglo
Thanks for your sharing.Like.
WayneEvans
2022-07-04
WayneEvans
I have confidence in it

Leave a comment

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