$MEITUAN(03690.HK) Tutu won't beat around the bush, I'll get straight to the point. Three main reasons why I predict Meituan will continue to fall.

1. This round of decline has been completely dominated by Alibaba, with no ability to fight back. There's almost no positive expectation, and the March earnings report also showed huge losses. The negative factors are piling up.

2. There are too many people hyping Meituan this time, leading to a large number of retail investors following the trend to "buy the dip," not to mention the old bagholders from before. The number of trapped positions around 90-86 this past week is particularly high, exceeding Tutu's expectations. Therefore, my prediction is that the main players will continue to wash out positions by pushing the price down, rather than pulling it up in the short term to let retail investors off the hook or give them money.

3. Leverage data shows a bull-bear ratio of 85:15.