Pop Mart International Group Ltd. (ticker: 9992) is a leading Chinese toy and entertainment company listed on the Hong Kong Stock Exchange (HKEX). Known for its trendy blind-box collectibles, particularly the popular Labubu dolls, Pop Mart has seen explosive growth. Its 2024 net profit surging 186% to CNY 3.4 billion and revenue doubling to CNY 13 billion. The company’s success is driven by strong domestic sales in China and a remarkable 400% increase in overseas revenue, now accounting for 39% of its total. Here’s a look at the Elliott Wave technical perspective on the stock:
Pop Mart (9992) Weekly Elliott Wave Chart
Pop Mart (9992) weekly chart displays a robust climb to a fresh all-time high, maintaining impressive strength. The rally from the wave (II) low in 2022 is developing as a five-wave Elliott Wave impulse. Wave I topped at 28, with wave II retracing to 16.1. Wave III may soon conclude after one more leg up, followed by a wave IV dip before the stock pushes higher again. Above 10.48, the bullish trend should persist
Pop Mart Daily Elliott Wave Chart
Pop Mart’s daily Elliott Wave chart shows the rally from wave (II) continuing to develop. The stock is now in a wave (4) of ((5)) of III correction, with support expected in a 3, 7, or 11 swing. While above 9.95, the outlook remains bullish.
Pop Mart 4 Hour Elliott Wave Chart
The 4-hour chart above shows wave ((5)) unfolding as a five-wave impulse. From wave ((4)), wave (1) peaked at 114.5, with wave (2) pulling back to 101.6. Wave (3) reached 160, and the current pullback should attract buyers in a 3, 7, or 11 swing, setting up further upside to complete wave (5) of ((5)). In the near term, as long as the 34.4 low pivot holds, expect support in a 3, 7, or 11 swing for continued gains.
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