Hello Traders, at the week of September 21, XIAOMI has finished a possible wave 4. It has start a wave ((i)) of 5 that will bring the stock to a new ATH! The alternate view suggest, that the move from the HKD 19.40 (possible wave 4 low) is a wave ((b)) of 4, what would mean a „flat“ is underway! After wave ((b)) is done, one more corrective setback into the area of HKD 19.40 is next and after a wave 5 would start. On Tuesday 24 XIAOMI will announce its quarterly earnings. From the chart perspective is to observe, that the stock is bouncing below the high of 26.95 for several days. I think it could be in case of surprising earnings the stock will gap above the former high and start to new ATH`s in the coming days and weeks ahead! The same would be true at the opposite „surprise“! A decline within wave ((c)) of 4! So, watch the earnings on Tuesday and stay tuned for the next update!
Have a great Sunday..... Ruebennase
Feel free to ask or comment!“ Trading this analysis is at your own risk! The editor of this note is still invested to this stock!