Meituan Short-term Analysis: Technical Consolidation Awaits Direction Confirmation, Focus on Support at 80.9 Yuan

Meituan (03690) rebounded after experiencing consecutive declines in mid-April. On April 14, it hit a low of 83.75 yuan with a trading volume of approximately 2.156 billion yuan. In the following two trading sessions, it rebounded and approached the 90-yuan level in early trading on April 16. On April 17, the Hang Seng Tech Index... $Hang Seng TECH Index (800700.HK)$The index saw an overall pullback, with Meituan following the broader market decline, closing at HKD 85.85, a drop of 3.32%, with a trading volume of HKD 2.694 billion.

Support and Resistance Analysis

The current price of HKD 85.80 is between Support 1 (HKD 80.9) and Resistance 1 (HKD 90.1). The short-term key observation level is at HKD 80.9; if it can hold steady above this level, the rebound structure remains intact. If it breaks below, further downside testing towards HKD 77.2 should be monitored. On the upside, HKD 90.1 has been a resistance zone tested multiple times recently, and a breakout could target HKD 92.2.

Market News and Developments

With the upcoming May Day holiday, the travel market is gaining momentum in advance, and Meituan's in-store hotel and travel business is expected to benefit from the recovery in travel demand. On April 15, travel-related stocks broadly rose, with Meituan gaining over 2% during the day. In terms of business expansion, on April 14, Meituan's healthcare segment launched 'Little Group Health Manager' and a paid membership service called 'Health Card,' integrating AI capabilities into family health management to create an 'online consultation + offline service' closed loop, representing a mid-to-long-term business development initiative.

Institutional Views: Dongwu Securities maintains a 'Buy' rating, optimistic about profit recovery in core local commerce and growth potential in overseas markets. Orient Securities also maintains a 'Buy' rating with a target price of HKD 102.28, noting that industry subsidies are becoming more rational, and the instant delivery business is expected to enter a period of loss reduction and profit recovery.

Reply to Investor Comments:

@Dora the Stock God Dream@多啦股神夢: At this stage, it's not yet time to directly look back at higher levels. More realistically in the short term, we should first see if it can break through HKD 91.599 to confirm the trend before expecting further strength.

@USStockBullBullBull: Market sentiment does make stock prices fluctuate, but technically, the situation isn't bad as it still remains within a relatively strong consolidation structure and hasn't completely lost its rebound foundation.

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Reminder: This article does not constitute any investment advice.

This article is for reference only and does not constitute any investment advice. The market data, opinions, and analysis contained herein may change at any time without prior notice. We are not responsible for any loss or damage caused by reliance on the information in this article. Technical analysis only shows whether certain technical conditions are met; a comprehensive assessment of asset performance should combine other data and should not solely rely on this article to make trading decisions. Please note that past performance is not indicative of future results. Follow Jenny's insights on Hong Kong stock warrants for more professional analysis.

$Hang Seng Index (800000.HK)$$Hang Seng TECH Index (800700.HK)$$Hang Seng China Enterprises Index (800100.HK)$

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