$XIAOMI-W(01810.HK)

Xiaomi is really struggling today! It surged to HK$40.6 in the morning but quickly fell below the HK$40 mark, now down 2.47% at HK$39.54 with heavy trading volume. Selling pressure is overwhelming buying interest, suggesting many are taking profits or cutting losses.

The intraday chart shows a classic gap-up opening followed by decline, with thousands of large sell orders hitting the market. It stabilized slightly near HK$39.4. Technically, the psychological HK$40 support is broken - short-term pressure remains with next support around HK$39. A break below may test HK$38.

Despite Xiaomi's frequent buybacks and strong EV deliveries, smartphone margin pressure and market correction make short-term rebound unlikely. That said, long-term potential remains in automotive and AIoT - don't lose hope yet. Wait for more positive catalysts! Watch if HK$39 holds - a bounce is possible if supported, but be cautious if broken.