TECHNICAL ANALYSIS

Xiaomi may trend higher after it surged to a 8-month high and finished above the HK$13.50 resistance few sessions ago. Coupled with its 20-day EMA which is starting to turn upward and the stock pulled further away from all the EMAs likely suggesting that its bullish momentum is picking up further. The momentum may drive the stock towards resistance of HK$14.20, before it reclaims the next resistance point of HK$15.50.

Fundamentals

Net profit is expected to grow at a CAGR of 10% for the next 3 years with stable net margins of about 5%.

Source: Rakuten Research - 24 Oct 2023

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