Technical Buy Opportunity: Meituan Poised for Strong Upside Potential

Date: October 10, 2024
Broker: CGS International Securities Pte. Ltd.

Company Overview

Meituan is a Hong Kong-listed company (stock code: 3690) known for its wide range of services, including food delivery, e-commerce, and other on-demand services. The company has been identified as a technical buy opportunity in the report due to strong technical indicators.

Entry and Exit Strategy

• Entry Prices: 184.40, 158.00, 146.00
• Stop Loss: 109.80
• Target Prices:
  • Target 1: 224.00
  • Target 2: 260.80
  • Target 3: 300.20
  • Target 4: 330.00

Technical Indicators and Analysis

The report indicates a strong buy signal for Meituan based on a combination of technical factors. Key indicators include:

1. Price Action: The stock is positioned as a technical buy due to its potential for a significant upward movement based on current entry points.

2. Support and Resistance: Meituan’s support levels are strategically identified, and the upside potential is illustrated through multiple target prices.

Analyst Contact

• Analyst: Chua Wei Ren, CMT
• Contact: T: +65 6210 8612
• Email: weiren.chua@cgsi.com

Source: CGS International Securities Pte. Ltd.