Bullish Moving Average Cross by China Unicom Hong Kong (CHU)
China Unicom Hong Kong (NYSE:CHU) shares have crossed bullishly above their 10-day moving average of $12.23 on a volume of 273K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.
China Unicom Hong Kong share prices have moved between a 52-week high of $19.53 and a 52-week low of $9.89 and are now trading 26% above that low price at $12.45 per share. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.5%.
SmarTrend recommended that subscribers consider buying shares of China Unicom Hong Kong on August 18th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $11.63. Since that recommendation, shares of China Unicom Hong Kong have risen 4.0%. We continue to monitor CHU for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses china unicom hong kong