First thing first, I am not buying , yet. I will watch it over the next few weeks to see if the price rebounds strongly from the support at 344 -350 level. There is a possibility that it may continue to head south to revisit the next support at 289.80.
Remember the F&B business in China faces a lot of competition with new restaurants and menu being served up or turn around faster than you can imagined. The overall buying power in China is still weak as evidenced in the GXC and FXI ETF (rough guide).
note that it is a gap up bearish candle closing candle which means it is most likely to close the gap back to 289.80 price level. So no hurry and watch the market first.
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notice the entire month of Feb it was going up , only to hit the resistance level and come back down.... Let's wait for it to close the gap first
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awaiting for it to close the gap at 289.80 first before considering goingLONG
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So they missed their earnings expectations, market offer a 7.5% discount off its share price. I am nibbling now