China Mobile Crosses Below its 10-day MA (CHL)
China Mobile (NYSE:CHL) crossed under its 10-day moving average of $62.22 on a volume of 160K 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, China Mobile share prices have been bracketed by a low of $50.12 and a high of $72.92 and are now at $61.23, 22% 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 7.6%. 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