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Upgrade Alert for China Life Insurance (LFC)

By David Diaz

China Life Insurance (NYSE:LFC) was upgraded from Neutral to Buy at UBS today. The stock closed yesterday at $11.56 on volume of 1.3 million shares, above average daily volume of 932,000.

China Life Insurance Co., Limited offers a wide range of life, accident, and health insurance products and services.

There is potential upside of 100.2% for shares of China Life Insurance based on a current price of $11.56 and an average consensus analyst price target of $23.14. China Life Insurance shares should first meet resistance at the 50-day moving average (MA) of $11.84 and find additional resistance at the 200-day MA of $15.30.

In the past 52 weeks, China Life Insurance share prices have been bracketed by a low of $10.07 and a high of $77.97 and closed yesterday at $11.56, 15% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1.2% while the 50-day MA has declined 0.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of China Life Insurance on January 11th, 2016 by issuing a Downtrend alert when the shares were trading at $13.85. Since that call, shares of China Life Insurance have fallen 18.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades china life insurance

Ticker(s): LFC