TECHNICAL ANALYSIS

MEITUAN may trend higher after breaking out from a bullish flag pattern a few sessions ago. With the stock posting five consecutive white candles and the 20- day EMA indicating an upward direction, a positive outlook is anticipated in the near term. We expect that the rising momentum will continue to steer the stock higher and test the next level of resistance in the near term.

Fundamentals

Net profit is expected to grow at a CAGR of more than 30% for the next 3 years with strong net margins higher than 10%.

Source: Rakuten Research - 25 Apr 2024

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