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China Mobile Bearish Moving Average Crossover Alert (CHL)

By Shiri Gupta

Today, shares of China Mobile (NYSE:CHL) have crossed bearishly below their 10-day moving average of $62.21 on a volume of 109K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of China Mobile have traded between a low of $50.12 and a high of $72.92 and are now at $61.92, which is 24% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has slid 0.2%.

SmarTrend recommended that subscribers consider buying shares of China Mobile on July 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $58.66. Since that recommendation, shares of China Mobile have risen 6.5%. We continue to monitor CHL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses china mobile

Ticker(s): CHL