Tag: Xiaomi Corporation

XIAOMI CORPORATION   Stock Code 1810.HKE

Outlook
Xiaomi is in a strong uptrend as price has been trading above the cloud since May 2020. Price broke above its all-time high of HK$26.95 with a bullish candlestick during the last trading session. There was an earlier Conversion and Base lines crossover that hint for the upside. Lagging Span is above the cloud and above price of 26 days ago, confirming the bullish price trend. The MACD is still bullish and is moving higher. We could see price moving higher towards the next resistance point at HK$31.60.

Strategy
$27.50                Buy
$31.60                Price Target
$25.00               Risk Management Stop
1 week              Trade Duration

XIAOMI CORPORATION   Stock Code 1810.HKE

Outlook
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.

Strategy                  
$22.70                Buy
$26.60                Price Target
$19.90                Risk Management Stop
2 weeks              Trade Duration

XIAOMI CORPORATION   Stock Code 1810.HKE

Outlook
Price reached a high of HK$26.95 which was followed a price correction. Price is now sitting at the gap support zone that was created on 27 August 2020. The Lagging Span is still above the cloud and above the price of 26 days ago, confirming the bullish trend. The MACD is also bullish at the moment, confirming that this decline is just a pullback. These could increase chances of the stock price rebounding from here. We see this stock testing its high of $24.99 again within the next 2 weeks.

Strategy                  
$21.15                Buy
$25.00               Price Target
$19.15                Risk Management Stop
2 weeks             Trade Duration