Hi, according to my analysis of Xiaomi shares. There is a wonderful investment opportunity with the stock breaking the support at level 11. And breaking the descending channel with a very positive green candle outside the pattern indicates a strong entry of buyers. good luck for everbody
XIAOMI broke above the descending trendline, more upside! It might retap the trendline before further bouncing ! Our pivot happens to be where the 50% fib retracement and the EMA (34) support are !
Xiaomi is oversold, last fibo retracement has shown that price hit -27% target and -62% target already. Buyers will think it is a good time to chip in and at least potential target could be set the horizontal pullback resistance. Uncertainties still remain for xiaomi since Trump put Xiaomi in the military list, but short-term bounce could be possible towards our target!
Xiaomi still trends below the trendline. As long as price stays below the trendline, we remain bearish on it. MACD is also showing extended bearish trend.
XIAOMI just hit a good buy entry at the 61.8% fib retracement! Trendline is not broken and EMA (34) also support a good bullish momentum from here!
Stochastics also shows price is reaching a hidden support level !
