Xiaomi - good things come to those who wait

I have received a ton of questions about Xiaomi recently. People are in a rush to buy the discounted stock...

Me. Even I love Xiaomi as a company and use multiple products. I will hold myself from buying Xiaomi stocks yet.

Just some numbers to think about.

Xiaomi Market Cap 246.469
Apple Market Cap 720.301B

In my humble opinion. Both stocks are INSANELY OVERVALUED. Most of the tech stocks are insanely overvalued right now.

We are in a bear market in Asia. US tech stocks in a bear market and a bear market for global stocks is about to start.

So I'm not in a rush to buy yet.

There will be bounces but I will look to short Xiaomi AGAIN on any rally. I'm already shorting Amazon, Apple.

And Xioami is great for consumers but crap for investors as they don't turn any profits. Basically same Amazon concept and I'm shorting Amazon already. It's a bubble.

Comment:

*Correct Xiaomi marketcap - $31.7B

Comment:

Weekly bear break confirmed with an increasing sell volume

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Comment:

Makes a perfect descending channel.
With bullish RSI divergence.