A whopping 77% drop from the peak of 35.85 to a low of 8.50 in Oct 2022.
It broke the first resistance at 14.26 and is now approaching the 2nd one at 16.88. If it breaks above with a bullish signal, I will add more slowly.
It's launch of the Electric vehicle will give the likes of Tesla, BYD, Xpeng, NIO, etc a good run of their money. While the others are automotive business, Xiaomi has other revenue generating models to depend on - consumer electronics. Hopefully ,the EV segments will give it a much needed boost in the local market.
It broke the first resistance at 14.26 and is now approaching the 2nd one at 16.88. If it breaks above with a bullish signal, I will add more slowly.
It's launch of the Electric vehicle will give the likes of Tesla, BYD, Xpeng, NIO, etc a good run of their money. While the others are automotive business, Xiaomi has other revenue generating models to depend on - consumer electronics. Hopefully ,the EV segments will give it a much needed boost in the local market.
Commento:
it has broken out of the resistance @ 16.88 price level, expect it to go higher, accumulate slowly.