In today’s briefing:
- Meituan (3690 HK) – Break Below 122.55 May Set Up a Most Bearish Month End Close
Meituan (3690 HK) – Break Below 122.55 May Set Up a Most Bearish Month End Close
- At TMA we deliver high probability outcomes by focusing on our 3 pillars of technical analysis. •1) Response to key levels. •2) Price action. •3) Momentum confirmation.
- Meituan (3690 HK) has been trapped in a symmetrical triangle since bottoming in March 2022. Today the base of the triangle was impulsively broken at 122.55.
- The base of the triangle also forms part of a much larger LT uptrend that began in 2019. A month end close below 122.55 will target material multi-month downside.
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