Xiaomi - Looking to Break out!Xiaomi is manufacturer for IOT products which syncs great with Apple or Android Devices.
Currently its trading below the 50MA and is oversold at the moment.
Support at around the 26.5-27 HKD region with the 2nd support at 22.85-23 region (close to the 200MA)
The Wedge pattern is also close to the support region and a rebound is expected.
this post as a great buying opportunity for as technology has been a major push / driver on a post COVID19 world.
Pros
Benefit greatly from the US / China Huawei Ban.
Cost effective & quality products with IOT. Enhancing everyday users lifestyle at wallet friendly pricing.
Single app interface to control all the products
Company is on full growth model mode by not pushing on product cost
NEW CFO appointed on 26 Aug 2020 with 20 years of investment banking experience & serve previouslyas a managing director and the head of technology, media, and telecom in the investment banking and capital markets department of Credit Suisse in the Asia Pacific.
Cons
With the recent investment ban in US, share price has been pushed lower but take note its a ban on investing on the company, not a Full Ban on doing with US Business (unlike Huawei), they are in the mist of trying to resolve but should not post much of a issue.
3 May 2021 Target Price Low - 35
3 May 2021 Target Price High - 39
Disclaimer - Invest at your own risk!
