Xiaomi

Xiaomi (1810.HK) – [Will It Break From Its Downtrend Line? ]

Kelwin & Roy Xiaomi , ,
26th January, 2021, 7:15 AM

Xiaomi (1810.HK) – [Will It Break From Its Downtrend Line? ]Xiaomi 26th Jan2021

Chart Source: Poemsview 26th Jan 2021

Xiaomi(1810.HK) has recently found itself in the US blacklist which bans Americans form investing in companies that are in this blacklist. Naturally on such news we saw xiaomi nosedive over 10% and as everyone panic we saw possible opportunities. So we sent out a message to our clients the next day informing them of some potential support points to look out for. After touching the 50ema Xiaomi did a 10% rebound which actually hit the downtrend line, a good profit for those short term traders.

So what is our trade plan now? Xiaomi is currently near the downtrend resistance line and a break above that might see more bullish action coming in which might take it to around $33.70 levels. If it breaks during the day and doesn’t close above the resistance then we would want to be more cautious as this might signal weakness.

For longer term investors, scaling in at support levels is a strategy we deploy and scaling in in batches too and not going all in at a time is also our preference. We have drawn some support levels so do take a look.

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Yours

Humbly

Kelwin&Roy

Xiaomi (1810.HK) – [ Big Up Move Came In, Can It Sustain? ]

Kelwin & Roy Xiaomi , , ,
5th November, 2020, 7:15 AM

Xiaomi (1810.HK) – [ Big Up Move Came In, Can It Sustain? ]
Xiaomi 5th Nov 2020

Chart Source: Poemsview 5th Nov 2020

Xiaomi should be no stranger to most with most household having at least a xiaomi product. It could be their handphone, their robot vacuum or even their power bank which i own two of it! Xiaomi has recently been added to the HSI in July and since then did some retracement.

Back in Sept when it was trading at HKD$21 we also shared it with our clients sending the charts, plotting the  potential support and resistance and letting them understand how we view the markets.

So fast forward to yesterday when Xiaomi saw a burst of energy when it finally broke out of its downtrend line of $22.90 and made a dash to our first resistance of $23.95. It even went on to $24.45 a good 6% run since the break  and eventually settling just below our resistance line.  If Xiaomi can now stay above $23.95 we might see it move up to $24.90 area! Fingers crossed! From the chart, good volume came in which is the  highest for the last 1.5 months so this move up should be able sustain and hopefully meet our next resistance of $24.90.

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Yours

Humbly

Kelwin&Roy