China Mobile Bullish Moving Average Crossover Alert (CHL)

Published on Fri, 02/22/2013 - 12:09
By Mallory Stone in Moving average crossovers, CHL, china mobile, moving crosses, nyse:chl

Today, shares of China Mobile (NYSE:CHL) have advanced above their 10-day MA of $55.25 on a volume of 231K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

China Mobile (NYSE:CHL) has potential upside of 15.5% based on a current price of $55.41 and analysts' consensus price target of $64.00. The stock should find resistance at its 50-day moving average (MA) of $56.55, as well as support at its 200-day MA of $55.14.

In the past 52 weeks, shares of China Mobile have traded between a low of $49.37 and a high of $59.73 and are now at $55.41, which is 12% above that low price. The 200-day and 50-day moving averages have moved 0.03% lower and 0.25% lower over the past week, respectively.

China Mobile Limited, through its subsidiaries, provides cellular telecommunications and related services in the People's Republic of China and Hong Kong SAR.

By Mallory Stone
mstone@fnno.com

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