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China Unicom Hong Kong Shares Climbing Higher, Up 1.5%

Published on Thu, 01/31/2013 - 11:26
By Peter Chu

China Unicom Hong Kong (NYSE:CHU) is one of today's biggest movers, up 1.5% to $16.01. The Dow Jones Industrial Average is now trading fractionally higher to 13,918 and the S&P is trading fractionally lower to 1,501.

In the past 52 weeks, China Unicom Hong Kong share prices have been bracketed by a low of $12.16 and a high of $18.95 and are now at $16.01, 32% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has remained constant.

China Unicom Hong Kong has overhead space with shares priced $16.01, or 15.1% below the average consensus analyst price target of $18.85. The stock should find resistance at its 50-day moving average (MA) of $16.03, as well as support at its 200-day MA of $15.58.

China Unicom (Hong Kong) Limited, through its subsidiaries, provides telecommunications services in the People's Republic of China. The Company's services include cellular, paging, long distance, data, and Internet services.

By Peter Chu