Ge Long Hui·2025-12-11 13:57Core Viewpoint - The Hong Kong stock market opened positively on December 11, with technology stocks leading the gains, particularly driven by companies like Alibaba, Tencent, and Meituan, which saw price increases around 1% [1] Group 1: Meituan's Stock Performance - Meituan's stock price showed resilience, maintaining above the psychological level of 100 HKD, with a slight increase of 0.8% to 100.8 HKD by 11:43 AM, and trading volume increased to 1.462 billion HKD, indicating heightened investor interest [1] - On December 10, Meituan's stock rose by 2.72%, closing at 100 HKD, marking the end of a period of volatility and successfully returning near the MA10 level of 99.25 HKD, although it has not yet surpassed the minor resistance at MA30 of 100.2 HKD [1] Group 2: Technical Analysis - Meituan's current trend is characterized as "breakthrough under strong support," with clear dual support levels at 96.8 HKD and 93.5 HKD, indicating strong defensive buying interest [2] - The first resistance level is at 103.2 HKD, which corresponds to the previous high above MA60 of 100.79 HKD, requiring volume support for a successful breakout; if surpassed, the next target is 106.5 HKD, with a 56% probability of an upward movement [2] Group 3: Market Sentiment and Divergence - Recent reports from major banks like Goldman Sachs and UBS highlight a divergence in market sentiment regarding Meituan, with Goldman Sachs lowering its target price from 159 HKD to 144 HKD due to increased competition in the food delivery sector impacting profitability [5] - Investor sentiment is polarized, with some expecting a continuation of the rebound while others anticipate a price correction, leading to plans for leveraging short positions [5] Group 4: Derivative Products and Leverage - Recent market activity illustrates the unique value of derivative products, with bearish derivatives outperforming the underlying stock during its decline, showcasing the leverage effect [6][9] - For bullish investors, options with a strike price around 108.98 HKD are available, offering high leverage, while bearish investors can consider put options with a strike price around 91 HKD, also providing significant leverage [14]