The stock is up just 28% from recent support at an absurdly low valuation level and people are already taking profit?
Look at the charts - 1 yr, 2 yr, 3 yr.
Are people really that dumb in reading the charts?
Charts mean nothing. The reason for selling is because there may be a short tem selloff after a big runup. Selling some shares now will raise money to be used on selloffs. Also other stocks are now more undervalued than even Xin and selling shares can raise money to buy shares in thos companies. Finally, it depends on how many shares you have. If you have 500 or less you should not sell any shares.
I am not an amateur here. I have been in this stock for a few years. I sold XIN last Friday around $4.91. XIN is a stock with strong technical characteristics. It would start have a correction soon. I may buy back a few after it dropped 10% from high.
Also, at this price level. XIN's more vulnerable to future events such as a mainland Chinese RE correction.