MINIMAX-W approaches the 870 mark with repeated tussles; while the market is shouting for a thousand, some have started to take profits at higher levels.
The recent trend has clearly shifted from a rebound at lower levels to a testing phase at higher levels, with market sentiment also showing corresponding changes.
From investors' comments, bullish sentiment still dominates, with many investors already raising their targets to 900 or even 1000. Views such as 'Passing 875 directly to 900,' 'Break through 880 and accelerate further,' and '1000 is not a dream' keep reappearing, reflecting the market's continued high expectations for further upward movement. At the same time, some investors believe the stock price trend is stable, representing a slow-rising structure, and are willing to hold their positions in anticipation of higher levels. There are even voices starting to prepare for longer-term AI industry logic, considering MINIMAX-W as one of the representatives of China’s AI industry. Market sentiment is gradually shifting from short-term trading to a combination of 'themes + trends.'
However, at the same time, another distinct voice has begun to emerge—questioning the resistance around 870. Judging from comments, many investors are choosing to exit or reduce their positions near 860 to 870, with specific actions such as 'sold at 870' and 'entered at 860 and got stuck,' indicating that this area has become a watershed for short-term capital. On one hand, the bulls believe that breaking through 875 or 880 will open up more upside potential; on the other hand, the bears have started to argue in terms of 'double top,' 'difficult to break 870,' and 'time to harvest,' questioning whether the current uptrend is nearing its end. This divergence suggests that the market is no longer in a unilateral uptrend but has entered a typical zone of high-level attack and defense.
Further observation of wait-and-see and sentiment-related comments reveals that the market is focusing on several key issues. The first is whether the 870 level can be effectively broken through and sustained—a critical point that almost all investors agree on. The second issue is whether a similar intraday V-shaped rebound structure might still occur in the short term, given that past rallies were often accompanied by noticeable pullbacks before resuming, leading some investors to expect a similar pattern again. Additionally, whether the 1,000-point level is a short-term achievable target has become a focal point. Many investors emotionally accept this target, but doubts about whether time and space align are also emerging. Beyond that, some comments mention fund inflows, news-driven catalysts, such as AI-related positives, or even individual institutional trading habits, which amplify short-term volatility.
This comment structure actually reflects an important shift: the market has moved from 'betting on a rebound at lower levels' to 'betting on a breakout at higher levels.' During the lower-level phase, the focus was on the risk-reward ratio and safety margins, whereas now the emphasis has shifted to momentum continuation and confirmation of breakouts. As a result, some investors are starting to adopt phased profit-taking strategies, such as reducing positions at higher levels while retaining core holdings to wait for a breakout. Such operations are clearly more conservative than holding full positions previously, indicating that market risk awareness is rising.
From a technical analysis perspective, MINIMAX-W (on the 14th) had already broken above the 10-day and 20-day moving averages, establishing a short-term rebound trend and returning above the middle axis of the Bollinger Bands. The overall trend has shifted from weak to moderately strong. However, the current price has not yet fully escaped the overhead resistance zone, particularly the 30-day line and the 870-880 area, which form the most critical short-term resistance region. This also explains why the price has repeatedly pulled back after testing this zone, showing significant market divergence at this level.
The Relative Strength Index (RSI) remains in a moderately strong range—not overheated but no longer in an extremely low rebound state—indicating that upside potential still exists, though new momentum is needed. If subsequent trading volume expands and a decisive breakout occurs in the 870-880 range, it would suggest that market consensus is shifting from divergence to alignment, creating the possibility of quickly testing the 900 mark, and potentially pushing towards higher targets. Conversely, if multiple tests fail to achieve a breakout, it could easily lead to sideways consolidation or even a pullback, necessitating vigilance for downside risks towards 850 or lower support levels.
Therefore, the key at this stage is not simply to determine whether the market will rise or fall, but to assess whether a breakout is valid. Before a confirmed breakout, the risk of chasing positions has clearly increased, and the reward-to-risk ratio has shifted from an accumulation zone to an observation zone. Strategically, a more reasonable approach is to wait for confirmation of the breakout before following the trend, or to buy again when prices pull back to support levels, rather than blindly chasing highs within the resistance range. This also aligns with some investors in the market starting to adopt a phased profit-taking strategy.
Overall, MINIMAX-W is currently at a very typical turning point. Bullish sentiment remains strong, with target prices continuously being raised, but actual prices have entered a dense resistance area, leading to divergence and a tug-of-war among funds. The 870 level is not only a technical resistance but also a psychological threshold for the market. A successful breakout could amplify both sentiment and capital inflows, creating a new upward trend; however, if it continues to face resistance, it indicates that the current uptrend needs time to consolidate, and a more pronounced pullback may occur. The core of short-term trading has shifted from 'whether to buy' to 'where to buy' and 'whether to wait for confirmation before buying.'
Reply to some investors' views:
@hct1997It's best to hold around 900, then surge to 1330 after the M3 announcement.
Consolidating first at 900 before moving higher would be more reasonable.
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Reminder: This article does not constitute any investment advice.
This article is for reference only and does not constitute any investment advice. Market data, opinions, and analysis contained herein may change at any time without prior notice. We are not responsible for any loss or damage caused by reliance on the information in this article. Technical analysis only shows whether certain technical conditions are met; asset performance should be comprehensively evaluated using other sources of information, and trading decisions should not be made solely based on this article. Please note that past performance is not indicative of future results.
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