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

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.

Want to have such updates sent to your handphone straight?

Then be our EXCLUSIVE CLIENT and find out how you can be included in our trading community.

See you onboard soon!

Yours

Humbly

Kelwin&Roy

The post Xiaomi (1810.HK) – [Will It Break From Its Downtrend Line? ] appeared first on Singaporehumblestock.