Not adding more to Meituan , wait and seeThis is what I see on the chart so while I likes its growth story, I prefer to wait and see if Market would give me another opportunity to buy it cheaper. Not chasing the high price ......
3690/N trade ideas
Accumulating more of this company, MeituanAlready the market leader in food delivery in China, this amazing company is set to grow further. Inflationary or deflationary environment, people still have to eat and at today's 10-20 set meal being pushed out , the consumer's review on its platform become a first seek out approach to eating out/in. On top of that, people are also using this app to order travel tickets , concert tickets etc.
I am equally excited about its investment in the drones sectors where it would replace some of the manual delivery workers in harder to reach destinations - mountaintops, rural villages where it is difficult to travel by road.
I hope it would come down to the accumulation zone so I could add more shares.
Please DYODD
This time is different?Technical:
It has hold the major 200 ma on daily timeframe with ma30, 50 support
The $120 resistance (tested for 11 weeks) from ma 100 weekly timeframe will likely to become support since the daily timeframe holds and form a short base throughout Aug.
Currently at the low point of trend continuation after weekly timeframe pullback since may 2024.
If there is lack of momentum to breakout , it will likely to test back the 100 level, and could even breakthrough it to create a deeper retracement. as 11 weeks of testing $120 could be distribution rather than accumulation .
However, I think distribution is less likely given fundamental support of the company and still able accumulate right now at $120 and target >$160. My first call is at $113 and this is my second call.
Meituan Uptrend Line Price Rejection At 104.8 HKD 06.06.2024- Uptrendline price rejection observed at 104.8 HKD on Meituan's 4-hour chart.
- If rejection holds, potential uptrend to 129.2 HKD.
- Break above 129.2 HKD suggests further upside to 147.8 HKD.
- Conversely, if rejection holds, potential downtrend to 95.00 HKD.
- Break below 95.00 HKD may indicate further downside to 60.85 HKD.
- Apply risk management
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What will the future of JOBS be really, really like ??Read this IPO news here
This article here is nothing new as we are witnessing a change of the job market landscape exacerbated or accelerated by the Covid-19 pandemic. See article here
How big is the food delivery market globally? See here
In Singapore recently, someone claimed they could make almost S$9000 a month from this food delivery business. This is close to what a General manager pay in a company. This makes me think hard, do my kids really need a degree i n the coming years to earn a job ?
I explore one of this GIG economy stock here . Come to think of it, many of this ad hoc jobs tend to sit with some form of creative skills.
Another area that I look at is the GAMING industries where many young people prefer to work in - youtube influencer, voice artists, creating avatar, content editing, etc. Naturally, some of the gaming stocks that I like are here , here and here
I also analysed where parents in China will spend their money on for their kids - EDUCATION comes up top and we did make excellent profit for a year or so until the Chinese government steps in and crashed it .
And in SG where I lived, I am seeing more and more young people starting out to become hawkers rather than using their degrees to earn a corporate job.
I love talking to private hire drivers whenever I take a Grab with my family (before Covid) and many of them were holding high level positions like Directors, MD and some had PHDs as well. Some reached a certain age (especially over 40) and find it hard to get back to the 9 to 5 job anymore so they switch to becoming a private hire driver where they have more control of their time.
In a time where inflation are soaring, property prices are going up the roof and food prices are skyrocketing, one MP made a suggestion to renew the University degrees every 5 years. Ridiculous ? Realistic ? Or plain out of touch with market ?
Just when we think things are going smoothly for these aspiring media influencers, as remote as it is , a WAR could be the OBSTACLE to take away everything you have. Read article here
So, I wonder, what will the future of JOBS be really, really like ? Please share your comments !!!
Meituan: Turning Point ⤴️Meituan's price is still trading at the lower end of the magenta Target Zone between HK$96.90 and HK$64. Our primary assumption remains that the stock is already working on the wave 1 rises in turquoise - and that it should soon leave the resistance at HK$103.50 well behind it. However, we must continue to weight the option with a 35% probability that the stock will still undercut our Target Zone in order to complete the correction only below the low of wave alt. (2) in green.
75% drop from the peak for Meituan , would you buy ?Read these news here :
www.reuters.com
I am not aggressively buying at this moment although the revenue has improved over last year. I will wait for the breakout from the bearish channel before deciding and takes time to do more research.
As Meituan started as a food delivery platform and dominate the largest market share in China, it has also branch out into other areas like ride sharing, bike sharing, restaurant management services. Also, it has expanded its services into Hong Kong , out of its comfort zone in China.
Because people are locked down during the 3 years Covid period, food delivery becomes a must have and the demand is high on a national level. Now with the reopening of the China market, would more people still order food and eat at home or prefer to dine out ?
There will always be demand for this food delivery - think the people returning to office and prefer to lunch in, have meetings ,etc rather than stressed themselves out hustle bustle in the lunch crowd within an hour.
The divestment of Meituan shares by Tencent, its biggest shareholder also caused a slump in its share price along with the tech regulations that hit China tech companies like Tencent, Alibaba, Baidu, etc.
Let's wait and see how it performs in the coming weeks/months.
Be greedy when others are fearfulIf this last line of defence is also taken out by this week, then we can see the price possibly heading further south towards 120 level (though I think is quite unlikely).
From its peak at 453.70, we have witnessed how this stock tumbled down almost 60% to its current price of 194.
Please do not ask me should you sell or buy as I do not know your objectives nor strategy. As a long term investor, I am thrilled for 2 reasons. One, the central government moves seen by many global investors as a hard hit is really not in the eyes of the middle income people in China. The severe downfall of the Education sector was a crude wake up call to many other players who wondered when will the next industry be hit ? So , panic selling and fearmongers are spreading rumours to encourage weak hearted traders to let go of their shares.
Of course, the weak companies will suffer as we see these tuition operators that make millions and billions are now worth much lesser of its valuations than its glory days. The entire business model - from profit to non-profit will affect the share price drastically!
However, the fundamentally strong companies , like Meituan will be able to withstand though it also has its fair share of whipping from the government. A more fairer wage model was proposed for the deliverymen, one that created millions of jobs including in the rural areas. The central government does not want capital growth at the expense of its people. We know how tough the job of these deliverymen are.
So. let the selling pressure quiets down a bit more and I will be watching like a hawk to average down. Do not copy my model if you are not sure what you are doing. Speak to your Adviser and get professional advice.
Market CorrectionLast week there was the false correction with all Asian stock taking false jumps.. Most are working their way back down.
With earnings being released next week the downward trend on the 1hr chart will be evident.
MPNGF Price Target Price target for MPNGF Meituan is $27.
All the Chinese stocks are primed for a strong recovery after China`s top administrative authority said it would work to stabilize the stock market and boost economic growth!
Traders are expecting the Chinese government would support the stock market like the FED did in the US.
Meituan is Roaring back into the NEW YEAR !!!!Looking at the chart, we can see multiple support at 24.97 level and so far the price action has shown it is moving up steadily. I would be accumulating more at this stage, in tranches as US is slapped with inflation risks, rates hikes and the political uncertainty of Russia/Ukraine.
HKG:3690 (Meituan) End of China Internet ?Meituan has been our 2nd largest position since 2020.
Once we cashed out this stock out during late 2020 at 280~290HKD and then jump into US tech stock 100% at the end of 2020.
We had an opportunity to buy this company again at lower price on Tech Crackdown & Common Prosperity policy.
At first effect from bad news , stock fell sharply from 300HKD -> 190HKD within a week or two
During bad news , Meituan was fined again and again and price seem to stop falling.
That was our accumulation period.
Though Q3/21 , earning report reflex slower growth in China but it is still growing.
Chinese spending / consumption is still growing in long term and Meituan must be in a part of that.
With excellent execution in the past I bet this company keeps adapting and evolving to be in a part of long term China growth.
3690 mei tuan3690 meituan, resistant strong at 300 and support strong at 258 , so slightly will fluctuate and sideway around this two level
lets see
Meituan Achieves a 77% YoY Revenue Growth in Q2 2021The platform earned CNY 43.80 billion in Q2 2021 while reducing its monthly operating loss to CNY 3.25 billion. According to survey data, 60% of full-time riders have a monthly income of more than CNY 5,000.
- On August 30, 2021, Meituan, the Chinese life service e-commerce platform, released its Q2 financial report. The report shows that the company earned a quarterly revenue of CNY 43.80 billion, with a year-on-year increase of 77%, and the monthly operating loss was reduced to CNY 3.25 billion.
- In terms of businesses, the platform's revenue of takeout food was CNY 23.10 billion, accounting for 52.74% of the total; earnings from hoteling were CNY 8.60 billion, covering 19.63% of the total. As indicated by the firm, its retail business continued to build its core infrastructures and has begun to establish nationwide cold-chain logistics, while promoting the growth of high-quality agricultural products across the country.
- Wang Xing, CEO of Meituan, said that their businesses continued to maintain steady growth in Q2 2021, thanks to the continuous and stable recovery of China's economy and the company's deep integration of digitization with the real economy and service economy. He also mentioned the company's firm determination to implement relevant national policies, play a proactive role in social responsibilities, and utilize the power of technology to propel China's economic development.
- As for expenditure, Meituan's R&D investment in Q2 2021 reached CNY 3.90 billion, with a year-on-year increase of over 60%. At the same time, the cost of the riders reached CNY 15.50 billion, a year-on-year increase of 53%.
- In terms of data, the number of users trading on the platform annually was 630 million and its active businesses up to 7.7 million until Q2 2021, both reaching a record high; the average per capita number of transactions was 32.8 annually, a year-on-year increase of 27.8%.
- In June 2021, the firm launched the 'takeout housekeeper service' to help digitalize the operation of high-quality but small- and medium-sized businesses. As the first phase of special subsidies, CNY 150 million was invested by the platform to provide 30,000 small and medium-sized businesses with three-month online operation services free of charge. Until now, 6000 businesses from 25 pilot cities have participated, driving up the average transaction volume of takeout restaurants by over 50%.
- In terms of riders, the report shows that, before H1 2021, the number of daily active riders of Meituan has exceeded one million. According to survey data, 60% of full-time riders have a monthly income of more than CNY 5,000.
- In July 2021, the company founded a service department to ensure riders' safety and improve their work experience. Besides, the firm has been responding to the national call and actively participated in the pilot programs to prevent and resolve the risk of occupational injury. In addition, Meituan also launched the 'Webmaster Training Program' and has been cooperating with vocational and community schools.
- The platform stated that in the future, it will provide a more comprehensive protection system for riders' rights and interests according to relevant policies and promote the high-quality and healthy development of the industry.
- Founded in Beijing in 2011, Meituan is China's leading e-commerce platform for life services. Its products include public reviews net, Meituan takeout and others. Its services cover more than 200 categories, such as catering, takeout, fresh retail, ride-hailing, bike-sharing, hotel tourism, film, and leisure & entertainment, and its operation covers 2800 counties, regions, and cities across China.
- On June 22, 2018, the platform was listed on the Hong Kong Stock Exchange. As of the close on August 30, 2021, its share price was HKD 228.40 (CNY 189.73), with a market value of about HKD 1.40 trillion (CNY 1.16 trillion).
MEITUAN-W (HK 3690)Head and shoulder breakout. Any retracement will be an opportunity to go long, expect to take a profit of around 405 HKD.
Meituan shares fall - investigation ongoing......Read latest news here
In China, it is not the company that rakes in the top revenue that call the shots! It is the CPC or Chinese government , haha!
We have seen the fate of Alibaba with its shares still heading south and a few other companies will follow suit as well.
So while the shares have fallen from a peak of 60 to current price (50% discount), I would like to let the dust settled (investigation) before deciding to accumulate.
I hope it does not slide further after 29.57 as the next support level and rebound from there. Then again, nobody knows the market so we just have to wait patiently for the outcome of the investigation.
Meituan (3690 HK) [1-3 weeks view]This is an analysis for a client.
Price is holding below descending trendline resistance.
RSI is also reacting below resistance.
Please do your own due diligence.
Losses can happen so please understand your risks and investment objectives first.
LONG 3690 (Meituan) Expecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
