Xiaomi (HK:1810)
Xiaomi stock price jumped across the creek as the company announced the launched its low cost 5G phone today. Related Article
Today's action is different from previous rallies as price broke above a significant resistance level that we call The Creek, a resistance level within the accumulation set-up.
With this breakout, we expect stock price to move into Mark Up phase where demand>Supply momentum is expected to continue.
Above chart is a summarised illustration of identifying characteristics of an Accumulation Phase. Understanding the characteristics helps investors lower the risk of catching the falling knife.
Join us this weekend, 14-15 December 2019 at SGX academy to learn the Richard Wyckoff Method in identify characteristics of demand and supply on the charts and price cycle.
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The Richard Wyckoff Method Course is SkillsFuture credit and IBS funding approved.
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