Xiaomi: Next Big Bang on the Hong Kong Stock Market?
For another interesting Chinese stock, we're looking at the mobile phone manufacturer Xiaomi, trading on the Hong Kong Exchange. Hence, we're dealing with the Hong Kong Dollar, not the US Dollar. Overarchingly, we are also in a Wave III here. Wave II concluded its correction with a double bottom at HK$8.28. This chart adheres well to the Elliott Wave structure, showcasing many patterns that align well.
Currently, we believe we are in a subordinate Wave 3, having completed the subordinate Wave ((ii)) between the 61.8% and 78.6% levels. Unlike other stocks, we aim to place a market entry here, as we anticipate that we should not fall below the 78.6% level. Else we could come back to the low of 8.28 HKD.
Xiaomilong
Positive Closing: Executed trade generated profitXiaomi stock Recently has started a bull trend that brings the stock price, to rise from its minimum of 8.42 to 18.10 bringing a rise of 59.49%. I got my signal and entered just in time to take some profit. Now the price overpass my level of attention between 12.30 and 12.74.
the last bull impulse brings the moving average of 50 periods close to the moving average of 200 periods, and probably we will see a possible golden cross, let's see it In the coming weeks. My new next level is above 14.22.
Probably the reopening of China and the end of the political covid-zero is given a boost to the economy and so the possible start of a bull run, we need to be careful and be aware of any possible change of direction, so having a portfolio diversified, and doing diligence in our work, will help us to protect our portfolio. This trade you can see it on my profile in eToro.
1810 XIAOMI | Elliott Wave Analysis - Possible Dump & Pump?Price action and chart pattern trading
> Ending diagonal with asymmetrical triangle pattern - possible scenario with dump & pump before ABC uptrend reversal.
> Aggressive entry @ downtrend channel wave ii and iv breakout
> Safer entry point @ triangle breakout
> Target @ previous 1 wave 0.382- 0.5 retracement zone
> Stoploss @ triangle lower support zone
> Risk reward ratio: 2:1
Indicator:
MACD - signal golden cross anticipated soon
RSI to breakout downtrend line MA before making the long entry
Always trade with affordable risk and respect your stoploss
Xiaomi is completing a big correction and is ready for C A rise in the form of three waves and a diagonal and then a fall in the form of an abc and a diagonal show that we are in a larger scale in a triangle or a structure like this
+The analysis is based on the fact that the United States reached a trade agreement with China to prevent its enemies from uniting.
XIAOMI ready for a positive cycle?An important week for Xiaomi (3CP on the Frankfurt stock exchange).
The price of the Chinese giant, after consolidating and lateralizing for a month, breaks the bearish trendline and prepares for a possible new positive cycle.
As for me, it is the Chinese Tech company, together with Baidu, which I think is more interesting in terms of future growth.
The quality of the products has grown exponentially and the opening of stores will certainly continue at the end of the pandemic, in Europe.
As for the medium term, my targets are the following:
1 target: € 3.39
2 target: € 3.85
Should the breakout fail, the support trendline is the first place to increase the position for long-term investors.
Lazy Bull
Xiaomi - Looking to Break out!Xiaomi is manufacturer for IOT products which syncs great with Apple or Android Devices.
Currently its trading below the 50MA and is oversold at the moment.
Support at around the 26.5-27 HKD region with the 2nd support at 22.85-23 region (close to the 200MA)
The Wedge pattern is also close to the support region and a rebound is expected.
this post as a great buying opportunity for as technology has been a major push / driver on a post COVID19 world.
Pros
Benefit greatly from the US / China Huawei Ban.
Cost effective & quality products with IOT. Enhancing everyday users lifestyle at wallet friendly pricing.
Single app interface to control all the products
Company is on full growth model mode by not pushing on product cost
NEW CFO appointed on 26 Aug 2020 with 20 years of investment banking experience & serve previouslyas a managing director and the head of technology, media, and telecom in the investment banking and capital markets department of Credit Suisse in the Asia Pacific.
Cons
With the recent investment ban in US, share price has been pushed lower but take note its a ban on investing on the company, not a Full Ban on doing with US Business (unlike Huawei), they are in the mist of trying to resolve but should not post much of a issue.
3 May 2021 Target Price Low - 35
3 May 2021 Target Price High - 39
Disclaimer - Invest at your own risk!
Xiaomi is oversold, could see short-term bounce soon! 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 is pulling back to key support level, potential buy entryA key support level is identified according to trendline and key fib levels, our buy entry happens to be where the 61.8% fib retracement and 61.8% fib extension are. Price is likely to bounce from there if price reaches the level. Good level to go long from, in line with the trendeline we have identified on H4!