I just added another position at $MINIMAX , making my holding larger than before.
On the chart, the price is in the middle of its pullback after a rally, oscillating repeatedly below a round-number level. The short-term moving averages are starting to flatten, and trading volume has clearly contracted compared with the rally. A pullback on lower volume isn’t necessarily a bad sign; it suggests selling pressure isn’t heavy. But it also shows that buyers haven’t returned en masse yet. The previous high above is stiff resistance, while the round-number level below is one the bulls must defend in this move. A decisive break below it would mean reassessing the structure. Overall market sentiment is cautious, with little money chasing the rally. Adding here is essentially an early, contrarian entry, with the risk that the sideways trading drags on.
The narrative is built around domestic large language models. This story isn’t at its hottest right now, but it hasn’t gone cold either. It’s in a phase where it’s repeatedly brought up and investors are selective—not a broad-based rally, but one where people come back when there’s progress in model iterations or compute investment. This kind of narrative is heavily driven by the news cycle, and prices can easily drift when the news flow goes quiet.
One item in today’s news is worth watching: overseas observers have noted that domestic large language models are starting to use the latest-generation compute cards. This reinforces the idea that model development is still being ramped up. At the very least, it shows that investment hasn’t stopped, which is mildly positive for short-term sentiment—but only mildly; it’s not enough to ignite a rally.
My view is that the current level isn’t bad. Genuine confirmation would require a surge in volume and a move back above the previous-high area. Until then, it looks more like it’s waiting for a catalyst.
On the chart, the price is in the middle of its pullback after a rally, oscillating repeatedly below a round-number level. The short-term moving averages are starting to flatten, and trading volume has clearly contracted compared with the rally. A pullback on lower volume isn’t necessarily a bad sign; it suggests selling pressure isn’t heavy. But it also shows that buyers haven’t returned en masse yet. The previous high above is stiff resistance, while the round-number level below is one the bulls must defend in this move. A decisive break below it would mean reassessing the structure. Overall market sentiment is cautious, with little money chasing the rally. Adding here is essentially an early, contrarian entry, with the risk that the sideways trading drags on.
The narrative is built around domestic large language models. This story isn’t at its hottest right now, but it hasn’t gone cold either. It’s in a phase where it’s repeatedly brought up and investors are selective—not a broad-based rally, but one where people come back when there’s progress in model iterations or compute investment. This kind of narrative is heavily driven by the news cycle, and prices can easily drift when the news flow goes quiet.
One item in today’s news is worth watching: overseas observers have noted that domestic large language models are starting to use the latest-generation compute cards. This reinforces the idea that model development is still being ramped up. At the very least, it shows that investment hasn’t stopped, which is mildly positive for short-term sentiment—but only mildly; it’s not enough to ignite a rally.
My view is that the current level isn’t bad. Genuine confirmation would require a surge in volume and a move back above the previous-high area. Until then, it looks more like it’s waiting for a catalyst.
