China Mobile Crosses Below its 10-day MA (CHL)
Today, shares of China Mobile (NYSE:CHL) have crossed bearishly below their 10-day moving average of $61.72 on a volume of 192K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.
China Mobile share prices have moved between a 52-week high of $72.92 and a 52-week low of $50.12 and are now trading 22% above that low price at $61.33 per share. 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 5.5%. 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