RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of MPNGY
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Meituan stock price up more than 5.24% on Thursday
(Updated on Mar 28, 2024)

Buy or Hold candidate since Mar 01, 2024 Gain 8.48% PDF

The Meituan stock price gained 5.24% on the last trading day (Thursday, 28th Mar 2024), rising from $23.47 to $24.70. During the last trading day the stock fluctuated 1.22% from a day low at $24.62 to a day high of $24.92. The price has risen in 6 of the last 10 days and is up by 6.28% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 37 thousand more shares were traded than the day before. In total, 247 thousand shares were bought and sold for approximately $6.10 million.

The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 30.12% during the next 3 months and, with a 90% probability hold a price between $25.73 and $35.57 at the end of this 3-month period.

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MPNGY Signals & Forecast

The Meituan stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $23.64 and $21.41. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, February 02, 2024, and so far it has risen 56.03%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Meituan stock

Meituan finds support from accumulated volume at $23.74 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.300 between high and low, or 1.22%. For the last week, the stock has had daily average volatility of 2.23%.

Our recommended stop-loss: $23.83 (-3.54%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 38 days ago.)

Trading Expectations (MPNGY) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Meituan to open at $24.75, and during the day (based on 14 day Average True Range), to move between $23.92 and $25.48, which gives a possible trading interval of +/-$0.777 (+/-3.15%) up or down from last closing price. If Meituan takes out the full calculated possible swing range there will be an estimated 6.29% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $23.74, some $0.96 (3.89%) from the current price of $24.70, our system finds the risk reward attractive.

Is Meituan stock A Buy?

Meituan holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 6.013 Strong Buy Candidate Upgraded

Predicted Opening Price for Meituan of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
$24.75 ( 0.189%) $24.70

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for MPNGY

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 25.05 1.40 %
R2 24.93 0.94 %
R1 24.86 0.653 %
Current price: 24.70
Support S1 24.63 -0.275 %
S2 24.56 -0.562 %
S3 24.45 -1.03 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0 .
R2 0 .
R1 0 .
Current price 24.70
Support S1 23.74 -3.89%
S2 23.51 -4.82%
S3 22.77 -7.81%

FAQ

What is the symbol for Meituan Stock and on which exchange is it traded?
The symbol for Meituan is MPNGY and it is traded on the PINK (Pink Sheets).

Should I buy or sell Meituan Stock?
Meituan holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

How to buy Meituan Stock?
Meituan Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Meituan Stock.

What's the current price of Meituan Stock?
As of the end of day on the 2024-03-28, the price of an Meituan (MPNGY) share was $24.70.

What is the 52-week high and low for Meituan Stock?
The 52-week high for Meituan Stock is $38.19 and the 52-week low is $15.70.

What is the market capitalization of Meituan Stock?
As of the 2024-03-28, the market capitalization of Meituan is 76.432B.
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About Meituan

Meituan Meituan operates an e-commerce platform for various services. It operates through Food Delivery; In-store, Hotel & Travel; and New Initiatives and Others segments. The Food delivery segment provides consumers place orders of food prepared by merchants. The In-store, Hotel & Travel segment offers consumers purchase local consumer services provided by merchants in numerous in-store categories or make reservations for hotels and attractions. The New... MPNGY Profile

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