22 C
New York
Wednesday, September 22, 2021
spot_img

Xiaomi Follows Huawei Onto The USA Blacklist

Xiaomi was one of nine firms added to the Defense Department’s list of Chinese military companies, a move that will restrict U.S. investments in its securities.

Other firms include state-owned planemaker Commercial Aircraft Corp. of China Ltd., or Comac, which is central to China’s goal of creating a narrow-body plane that can compete with Boeing Co. and Airbus SE.

Xiaomi surpassed Apple Inc. in smartphone sales in the third quarter, according to the International Data Corporation. It joined Hong Kong’s Hang Seng Index in September after grabbing market share from Huawei Technologies Co. as U.S. sanctions on Huawei deepened.

Unless the ban against Xiaomi is reversed, the smartphone maker risks being delisted from U.S. exchanges and deleted from global benchmark indexes. China Mobile Ltd., China Telecom Corp. and China Unicom Hong Kong Ltd. were removed by MSCI Inc. last week, while S&P Dow Jones Indices will drop Cnooc from its gauges next month.

“China’s reckless and belligerent actions in the South China Sea and its aggressive push to acquire sensitive intellectual property and technology for its militarization efforts are a threat to U.S. national security,” Commerce Secretary Wilbur Ross said in a statement. “Cnooc acts as a bully for the People’s Liberation Army to intimidate China’s neighbors, and the Chinese military continues to benefit from government civil-military fusion policies for malign purposes.”

Xiaomi closed down -1.610 at 19.750. Volume was 853% above average (trending) and Bollinger Bands were 22% wider than normal.

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the bullish or bearish trend reflected in the lower ribbon.

Summary

Xiaomi is currently 60.5% above its 200-period moving average and is in an upward trend.

Volatility is extremely high when compared to the average volatility over the last 10 periods.

There is a good possibility that volatility will decrease and prices will stabilize in the near term.

Our volume indicators reflect volume flowing into and out of Xiaomi at a relatively equal pace (neutral).

Our trend forecasting oscillators are currently bullish on Xiaomi and have had this outlook for the last 53 periods.

Overall, the bias in prices is: Upwards.

A big black candle occurred.

This is bearish, as prices closed significantly lower than they opened.

If the candle appears when prices are “high,” it may be the first sign of a top.

If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trendline, or price resistance level), the long black candle adds credibility to the resistance.

Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.

During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles.

During the past 50 bars, there have been 20 white candles and 29 black candles for a net of 9 black candles.

HEFFXhttp://www.heffx.com
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.

Related Articles

Stay Connected

15,334FansLike
43,300FollowersFollow
2,855SubscribersSubscribe
- Advertisement -spot_img

Latest Articles