Xiaomi is forming a triangular wedge pattern on the daily. Both buyers and sellers are getting increasingly impatient as you can see lower lows and higher highs (blue lines). Two things can happen: (1) Buyers beat the sellers and we will see a breakout to retest all-time highs or (2) Sellers will beat buyers, key support levels will break and Xiaomi will sell off.
Given that earnings for Xiaomi is coming up soon, I am overall optimistic that we will see a run back to all time highs again. Xiaomi has also claimed the #3 spot in the mobile phone market which is a good sign.
Views are my own and are meant for discussion and educational purposes only. Please make your own investment/trading decisions!
Given that earnings for Xiaomi is coming up soon, I am overall optimistic that we will see a run back to all time highs again. Xiaomi has also claimed the #3 spot in the mobile phone market which is a good sign.
Views are my own and are meant for discussion and educational purposes only. Please make your own investment/trading decisions!
Comment:
Xiaomi is looking to challenge all-time highs, have sold 1/6 of my position and planning to hold the rest when it breaks it's previous all-time high at $26.95
Comment:
Xiaomi reported positive earnings today. Looking at a TP of $30/share
However, the price action is rather slow compared to other equities in the HKEX, so we will have to be a little bit more patient with this one!