Technical Pulse: Xiaomi Corp January 26, 2021 365

Xiaomi Corp (HKEX:1810) upside remain strong as the trend has been making a series of higher highs and higher lows and the technical indicate further upside:

  1. The formation of the bullish flag above key support zone one after prices briefly retreat from the all-time high signify a bullish continuation pattern.
  2. The piercing line candlestick formation above 50-day MA is a key indication of a bullish upside momentum. Besides that, the piercing line’s low is trending higher than the 15th Jan low after the rebound.
  3. Short term golden cross is spotted and prices are trending above all major moving averages.
  4. Positive failure swing is spotted twice on the RSI.

 

*Timeline of the trade is 4 weeks from the date issued.

 

Investors are advised to read the issuer documents found on SGX website here or the issuer’s DLC website here for the full details of the DLCs including the product features and the risks before investing in the DLCs.

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About the author

Profile photo of Chua Wei Ren

Chua Wei Ren
Technical Analyst
Phillip Securities Research Pte Ltd

Wei Ren specialises in Technical Analysis and has 11 years of experience in studying classic technical price action. He also study and research extensively on Elliott wave theory, Dow Theory. He believes that history plays an important role in how the market is reflected in the future.

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