Hello Traders,
Update for XIAOMI!
At January 4th, the stock set it's ATH @ 35.90 HK$! Since, the stock is in a corrective mode, which is not done to the downside.
Either we see a wave 3 at the top and wave 4 was done on March 8 @ 20.65 HK$ or, and it would fit much better to my view, we have a complete 5 waves at the top, with a wave a/w at 20.65, a wave b/x at 30.45 and a wave c/y to come!
What makes the difference between both alternates?
A wave c must run below the wave a low, to make a „normal“ flat done; at 15.20 waves c=a!
A “running-flat“, what is counted as w-x-y would end with wave y above the low of wave w; in this case above 20,62! A common target for this idea should be at or around the 21.05! Here, wave y would be a 0.618 length of wave w!
Right now, the stock is trading close to it's MA50 (what is nearby the MA 200, day); so a break to the downside of this level would strengthen the odds for more weakness to come (daily-close)!
I would wait for a clear argument to buy the stock; yet the time has not come!
Have a great week....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
Update for XIAOMI!
At January 4th, the stock set it's ATH @ 35.90 HK$! Since, the stock is in a corrective mode, which is not done to the downside.
Either we see a wave 3 at the top and wave 4 was done on March 8 @ 20.65 HK$ or, and it would fit much better to my view, we have a complete 5 waves at the top, with a wave a/w at 20.65, a wave b/x at 30.45 and a wave c/y to come!
What makes the difference between both alternates?
A wave c must run below the wave a low, to make a „normal“ flat done; at 15.20 waves c=a!
A “running-flat“, what is counted as w-x-y would end with wave y above the low of wave w; in this case above 20,62! A common target for this idea should be at or around the 21.05! Here, wave y would be a 0.618 length of wave w!
Right now, the stock is trading close to it's MA50 (what is nearby the MA 200, day); so a break to the downside of this level would strengthen the odds for more weakness to come (daily-close)!
I would wait for a clear argument to buy the stock; yet the time has not come!
Have a great week....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!