Meituan Dianping (HKEX: 3690) Strong upside is set to continue once more despite the wave analysis indicating a risk of a corrective expanded/running flat ongoing. All technical and price actions are pointing towards another round of upside:
*Timeline of the trade is 3 weeks from the date issued.
*Should the pennant fails to materialise, Meituan will likely find itself rebounding at HKD$249.20-HKD$241.20.
Red dotted line = 200 periods Moving average
Blue dotted line = 50 periods Moving average
Join our telegram channel on technical analysis for trends, entry and exit prices over Stocks, ETFs, and Indices!Featuring regular TA posts and requests to analyse specific stocks