China Mobile Limited Stock Forecast

China Mobile Limited stock upgraded to Strong Buy Candidate.
(Updated on May 17, 2024)

0941.HK Signals & Forecast

Mostly positive signals in the chart today. The China Mobile Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at HK$72.86 and HK$69.57. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 29, 2024, and so far it has risen 6.75%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. The stock had a Golden Star Signal on Wednesday, August 23, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for China Mobile Limited stock

China Mobile Limited finds support from accumulated volume at HK$74.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved HK$1.20 (1.64%) between high and low. For the last week, the stock has had daily average volatility of 2.35%.

Our recommended stop-loss: HK$71.41 (-3.96%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 12 days ago.)

Trading Expectations (0941.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect China Mobile Limited to open at HK$74.05, and during the day (based on 14 day Average True Range), to move between HK$73.12 and HK$75.58, which gives a possible trading interval of +/-HK$1.23 (+/-1.66%) up or down from last closing price. If China Mobile Limited takes out the full calculated possible swing range there will be an estimated 3.32% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ HK$74.00, some HK$0.350 (0.47%) from the current price of HK$74.35, our system finds the risk reward attractive.

Is China Mobile Limited stock A Buy?

China Mobile Limited holds several positive signals and has broken the weak rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 5.750 Strong Buy Candidate Upgraded

Predicted Opening Price for China Mobile Limited of Monday, May 20, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.