Meituan (3690) has a pivot point at 84.243 yuan; holding above this level could extend the rebound.

Meituan-W is currently trading at 85.5 yuan. After rebounding from a low of 73.600 yuan, the stock price has gradually stabilized and regained multiple short-term moving averages. It's now trading in the upper-middle part of the Bollinger Band, indicating a strong consolidation following the rebound. However, investor commentary shows that market confidence in this rebound remains weak. On one hand, some investors believe that the stock’s performance is still relatively strong and even anticipate a surge in the afternoon or a breakout after a shakeout. On the other hand, there are concerns about heavy selling pressure and high short-selling levels, with fears that the stock may just be using the rebound to distribute shares. Some investors are questioning whether Meituan has lost its appeal. This divergence reflects that the stock is still in a consolidation phase with unclear direction.

Technically, 84.243 yuan is the short-term watershed. As long as the stock price can remain above it, the overall rebound structure remains intact. The current Relative Strength Index (RSI) is 53.022, showing that short-term momentum has improved compared to earlier but is not yet very strong, indicating that market sentiment remains cautious without significant buying enthusiasm. The middle line of the Bollinger Band is at 84.243 yuan, and the current price is above it, suggesting that the overall trend is stable. However, resistance between 88.620 yuan and 91.783 yuan remains noticeable. If unable to break through, the stock is more likely to continue fluctuating within a range in the short term.

Based on investor comments, the most common questions in the market currently revolve around three areas: First, whether the current price still offers a chance for a rebound; second, whether large sell orders and high short interest indicate an intention by some funds to suppress the price; third, whether the lack of clear positive catalysts means the rebound is merely a technical correction. Considering the technical analysis, a reasonable interpretation at this stage is that Meituan is still in a consolidation period after a rebound from lower levels. The structure isn’t poor, but it also isn’t strong enough to fully overcome the overhead resistance. If it can hold above 84.243 yuan and further break through 88.620 yuan, there’s a short-term opportunity to test 91.783 yuan. However, if it fails to hold above 84.243 yuan, beware of the rebound structure weakening, with the stock potentially retreating to find support at 81.925 yuan. Overall, Meituan's current level presents a neutral risk-reward profile—it's not impossible to position here, but it’s better to wait for confirmation at key levels rather than blindly chasing near resistance zones.

Reply to investor comments:

@Stock-Picking Guru@講股估神Comment: They mentioned a strong afternoon push, it should extend until the end.

If there's further upside in the short term, the first key level remains at HK$88.620; only a sustained breakout would set the stage for a move towards HK$91.783.

@H@HComment: Can we bet on a rebound?

Yes, but the risk-reward at current levels is only neutral. A safer approach would be to wait for stabilization around HK$84.243 or a confirmed breakout above HK$88.620 before following.

@Mr. Caotang@草堂先生Comment: The big player is driving prices down to accumulate shares.

If this is accumulation, it should hold above HK$84.243 and attempt to break through HK$88.620 later. For now, you can observe around these two critical levels.

@The Profoundly Mysterious Brother Gada@深不可测的哥达Comment: Even without a rebound, it might not be worth looking at.

This view makes sense. At this stage, if it fails to break through 88.620 yuan, it indeed cannot be considered as fully opening the upward space; observing is also a reasonable approach.

Meituan-W (03690): Key Deployment Levels: 84.243 as the watershed. If it holds steady above 84.243, consider deploying on pullbacks; if it breaks through 88.620, you can follow the trend. If it falls below 84.243, reverse positions and look at 81.925.

Strategy One | Breakout Trend Following

26464 | Strike Price 90.05 | Actual Leverage 5.6x | Slightly aggressive but close to current price. If the stock price breaks through 88.620 and continues upward, the response will be direct. Suitable for first-round trend-following positions.

26603 | Strike Price 90.05 | Actual Leverage 5.9x | Also close to the current price but with higher leverage. Suitable for short-term trading after a breakout, not advisable to enter too early.

26323 | Strike Price 88.88 | Actual Leverage 5.6x | The closest to the current price. More suitable for holding after confirming the breakout, targeting the first leg up to 91.783.

$UBMTUAN@EC2608C.C (26464.HK)$$HSMTUAN@EC2608C.C (26603.HK)$$CTMTUAN@EC2608B.C (26323.HK)$

Strategy Two | Deploy on Pullbacks After Holding Steady

28065 | Strike Price 87.04 | Actual Leverage 4.6x | Nearly at-the-money, suitable for gradual accumulation after the stock price holds above 84.243; safer when deploying for a rebound continuation.

27505 | Strike Price 83.43 | Actual Leverage 3.7x | Mildly in-the-money, higher resistance to volatility, suitable for pullback deployment for those wanting less intraday fluctuation impact.

26790 | Strike Price 83.38 | Actual Leverage 3.8x | Also more defensive, suitable as a second choice. If the stock consolidates repeatedly near the support level, holding pressure will be relatively lower.

$UBMTUAN@EC2610D.C (28065.HK)$$HSMTUAN@EC2612B.C (27505.HK)$$BPMTUAN@EC2612D.C (26790.HK)$

Strategy Three | Deployment After Breakdown

21519 | Strike Price 82.83 | Actual Leverage 5.6x | Immediate reversal deployment after breaking below 84.243; sensitive to short-term weakness, suitable for quickly following the downtrend

20793 | Strike Price 82.88 | Actual Leverage 6.0x | Higher leverage, suitable for use when accelerating downward shortly after breaking through support;偏向 aggressive operation

26246 | Strike Price 77.86 | Actual Leverage 3.4x | Further out-of-the-money, suitable for holding when expecting a downturn not just momentarily but further testing 81.925 or even deeper

$UBMTUAN@EP2607A.P (21519.HK)$$CIMTUAN@EP2607A.P (20793.HK)$$BPMTUAN@EP2612B.P (26246.HK)$

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.

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