xiaomi Hk1810Xiaomi need to take note if it break the previous high it will go higher as it prepared to break the current resistance
1810
Same strategy on Bitcoin used on Stocks. Seriously ????Calling it falling wedge, descending triangle, etc, it really does not matter..........whatever is e
easy for you to understand. And the more you identify this pattern in many different asset class, like bitcoin and Xiaomi and Lenovo in the chart.
Xiaomi has enjoyed an unparalleled surge for the last 7 weeks, all bullish green candles, very powerful , very satisfying for those who long. Praise Lord.
Lenovo, I believe is at its infancy, we need to be patient.
For Bitcoin, it seems to behave in the same pattern as well. We were waiting for an opportunity to get in at around 8400-8500 area but it did not gives us the chance. Let's wait and see if next week will be better.
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1810 - Xiaomi HKEX basic setup
Xiaomi shows some signs of reverse / end of correction / around listing price. However locally Xiaomi is on the downtrend side.
Reasons to be bullish include an expected surge in revenue and earnings, driven by Xiaomi’s focus on Internet services and its increasing share of the hardware market in China, according to notes seen by Bloomberg. In a 63-page note to clients titled “Building a mountain one grain at a time,” Goldman Sachs analysts including Piyush Mubayi estimate Xiaomi has as many as 190 million users worldwide.
CICC predicts Xiaomi will grow revenue by 45 percent and earnings by 60 percent at a compound annual growth rate in 2018-2020. Morgan Stanley predicts a 61 percent growth rate for net profit in that period. Xiaomi is expected to release earnings on Aug. 22.
Analysts now predict Xiaomi will rise 22 percent from Wednesday’s close, according to the average 12-month target price compiled by Bloomberg.
www.bloomberg.com
