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Upgrade Alert for China Life Insurance (LFC)

By David Diaz

China Life Insurance (NYSE:LFC) was upgraded from Reduce to Hold at HSBC today. The stock closed yesterday at $13.34 on volume of 574,000 shares, below average daily volume of 932,000.

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

China Life Insurance has overhead space with shares priced $13.34, or 42.4% below the average consensus analyst price target of $23.14. The stock should hit resistance at its 200-day moving average (MA) of $15.30, as well as support at its 50-day MA of $11.84.

In the past 52 weeks, shares of China Life Insurance have traded between a low of $10.07 and a high of $77.97 and closed yesterday at $13.34, which is 32% above that low price. The 200-day and 50-day moving averages have moved 1.17% lower and 0.25% lower over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of China Life Insurance on August 15th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $12.46. Since that recommendation, shares of China Life Insurance have risen 4.9%. We continue to monitor LFC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades china life insurance

Ticker(s): LFC