Is It Time to Invest in Meituan After Its 84% Crash?

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Is It Time to Invest in Meituan After Its 84% Crash?

Source: Tiger Brokers, 18 Jan 2024

Short Term Trading Idea based on Technical Analysis:

The Meituan’s ( $MEITUAN-W(03690)$ ) share price may have found its bottom near HKD 68.6 based on Technical Analysis.
A strong support level may be forming at the Fibonacci extension level of 141.4%, priced at HKD 68.6. The recent low was HKD68.15.
We consider yesterday’s close above HKD 68.6 as a positive trade signal, indicating that the share price may gain some upward momentum.
The targeted profit is at the Fibonacci extension level of 127.2%, priced at HKD 107.91.
A suggested stop-loss could be placed at the 2019 peak at HKD 64.60.

Bloomberg analysts' consensus still recommends a buy with a 12-month target price of HKD 153.92, indicating a potential return of 123% based on yesterday's closing price of HKD 68.75.

Note: I will provide a more in-depth fundamental analysis after its scheduled earnings release on Mar 22, 2024.

Modify on 2024-01-18 12:10

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.

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JulianAlerander
·01-23
Absolutely not, stay far away from Meituan after such a devastating crash.
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AuntieAaA
·01-18
GOOD
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The recent low was HKD68.15.</li>\n <li>We consider yesterday’s close above HKD 68.6 as a positive trade signal, indicating that the share price may gain some upward momentum.</li>\n <li>The targeted profit is at the Fibonacci extension level of 127.2%, priced at HKD 107.91.</li>\n <li>A suggested stop-loss could be placed at the 2019 peak at HKD 64.60.</li>\n</ul>\n&nbsp;\nBloomberg analysts' consensus still recommends a buy with a 12-month target price of HKD 153.92, indicating a potential return of 123% based on yesterday's closing price of HKD 68.75.\nNote: I will provide a more in-depth fundamental analysis after its scheduled earnings release on Mar 22, 2024.</body></html>","htmlText":"<html><head></head><body><img src=\"https://community-static.tradeup.com/news/98b8ecb4310cd01239c5cf9ae73785d4\" tg-width=\"1159\" tg-height=\"760\">Source: Tiger Brokers, 18 Jan 2024\nShort Term Trading Idea based on Technical Analysis:\n<ul>\n <li>The Meituan’s ( <a href=\"https://ttm.financial/S/03690\">$MEITUAN-W(03690)$</a> ) share price may have found its bottom near HKD 68.6 based on Technical Analysis.</li>\n <li>A strong support level may be forming at the Fibonacci extension level of 141.4%, priced at HKD 68.6. The recent low was HKD68.15.</li>\n <li>We consider yesterday’s close above HKD 68.6 as a positive trade signal, indicating that the share price may gain some upward momentum.</li>\n <li>The targeted profit is at the Fibonacci extension level of 127.2%, priced at HKD 107.91.</li>\n <li>A suggested stop-loss could be placed at the 2019 peak at HKD 64.60.</li>\n</ul>\n&nbsp;\nBloomberg analysts' consensus still recommends a buy with a 12-month target price of HKD 153.92, indicating a potential return of 123% based on yesterday's closing price of HKD 68.75.\nNote: I will provide a more in-depth fundamental analysis after its scheduled earnings release on Mar 22, 2024.</body></html>","text":"Source: Tiger Brokers, 18 Jan 2024 Short Term Trading Idea based on Technical Analysis: The Meituan’s ( $MEITUAN-W(03690)$ ) share price may have found its bottom near HKD 68.6 based on Technical Analysis. A strong support level may be forming at the Fibonacci extension level of 141.4%, priced at HKD 68.6. The recent low was HKD68.15. We consider yesterday’s close above HKD 68.6 as a positive trade signal, indicating that the share price may gain some upward momentum. The targeted profit is at the Fibonacci extension level of 127.2%, priced at HKD 107.91. A suggested stop-loss could be placed at the 2019 peak at HKD 64.60. Bloomberg analysts' consensus still recommends a buy with a 12-month target price of HKD 153.92, indicating a potential return of 123% based on yesterday's closing price of HKD 68.75. Note: I will provide a more in-depth fundamental analysis after its scheduled earnings release on Mar 22, 2024.","highlighted":1,"essential":2,"paper":2,"likeSize":282,"commentSize":2,"repostSize":32,"favoriteSize":0,"link":"https://ttm.financial/post/264304331886608","repostId":0,"isVote":1,"tweetType":1,"viewCount":4319,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":["03690","MPNGY"],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":774,"xxTargetLangEnum":"ORIG"},"commentList":[{"id":266135577927704,"commentId":"266135577927704","gmtCreate":1706006395457,"gmtModify":1706078430000,"authorId":9000000000000526,"author":{"id":9000000000000526,"idStr":"9000000000000526","authorId":9000000000000526,"name":"JulianAlerander","avatar":"https://static.tigerbbs.com/3e323dbbc6c94364b37b3a4181851cf0","vip":8,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":264304331886608,"objectIdStr":"264304331886608","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"Absolutely not, stay far away from Meituan after such a devastating crash.","text":"Absolutely not, stay far away from Meituan after such a devastating crash.","html":"Absolutely not, stay far away from Meituan after such a devastating crash.","likeSize":0,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"valid","coins":0,"score":0},{"id":264199020339224,"commentId":"264199020339224","gmtCreate":1705549245328,"gmtModify":1705549251893,"authorId":3583049143664216,"author":{"id":3583049143664216,"idStr":"3583049143664216","authorId":3583049143664216,"name":"AuntieAaA","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":264304331886608,"objectIdStr":"264304331886608","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"GOOD","text":"GOOD","html":"GOOD","likeSize":0,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"invalid","coins":0,"score":0}],"hasMoreComment":true,"orderType":2}