EXCAVO

XIAOMI

Long
CAPITALCOM:1810   Xiaomi
Xiaomi Corp was likely to be included on indices again, S&P Dow Jones Indices said after a federal judge suspended a U.S. investment ban in the company on the grounds it has ties to China’s military.

Xiaomi is wading into electric vehicles with a $10bn investment over ten years. Their goal is to provide quality smart electric vehicles. The company will be entering a fiercely competitive electric car market that also includes rivals Apple and Huawei.

Technically, the company's shares are currently trading near the resistance zone . If it breaks the 23.6% Fibonacci level and takes hold above it, the price will likely exceed ATH in the mid-term.

Best regards, EXCAVO

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Great analysis
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