XIAOMI CORPORATION Stock Code 1810.HKE
The bullish trend of this stock remains intact as price managed to stay above the 50EMA during a price correction after reaching a high of $26.62. The 50EMA is acting as a strong price support at the moment. Price has been moving higher and has rebounded from the gap support zone that was created on 27 August, which shows that the bullish trend is intact. Both the 20EMA and 50EMA are heading upwards, confirming the bullish trend and hint for more upside ahead. The MACD is bullish and a bullish MACD crossover is likely. We are likely to see price moving higher to test its high at $26.60 again.
$26.60 Price Target
$19.90 Risk Management Stop
2 weeks Trade Duration