For the past 5 weeks Xiaomi has shown a positive relative strength comparing to Hangseng index. The current price stand above ema 10 50 and 200 days representing a positive trend. It is forming a cup and handle pattern both in short and medium term trend. Positive momentum is likely to persist if the stock can break and stand above 13.28 Hkd.
Commentaire:
Volatility contraction pattern form follow by break out with volume. Once the stock can firmly stand above 14 Hkd upside is wide open.
Transaction en cours:
After weak hand shake down with light volume, Xiaomi finally break above 14 Hkd. At this price level there is no more significant resistance, potential upside is open.
Transaction en cours:
Ride the trend with Ema 50 viloation as profit trailing stop
Transaction en cours:
18.46 technical target almost hit
Transaction en cours:
Today exactly 18.46 hit. If you want to take some profit it is ok. Main trend still exist ride it well.
Transaction en cours:
Congratulations, we are almost at all time high!!! Trend remain very bullish. For those of you who wants to protect your profit a tight trailing stop is at 19.8. Good luck and god speed. ^-^
Transaction en cours:
Finally all time high has been reached. It's a matter of how you want to trail your stop profit. It has been a wonderful journey and i hope it will continue. Until next significance change or trailing stop has been hit, we shall meet again. Good luck and have a wonderful evening.
Transaction en cours:
Another handle is being form, if break out we could see some further more upside. For big trend trader, ema 50 rule is still intact.
Commentaire:
Time to lock in profit. I think that we have reached the end of wave 5 with ema 10 violation. It has been a very exciting journey sine June 3, 2020. I probably leave some position for long term investment. Until i see abc correction for wave 2, then we shall meet again. Cheers.
Transaction en cours:
Looks like consolidation period is almost finish. Keep a close watch when price stand above 27 again.