China Mobile Rests at 200 Day Moving Average
China Mobil (CHL) is down some 30% from its all time high during a period that has seen the broader indexes decline between 15-20%. Mobile usage in China is still growing rapidly and China Mobile is the largest player in the area. Although I am short the emerging markets and the S&P 500, I do believe that the market is putting a bottom at 1310 on the S&P. If that is indeed true, then I think China Mobile is a safe bet. However, if the market closes lower than 1300 on the S&P, I would be selling most of my long positions across the board.
– Faisal Laljee
Full Disclosure: I do not own CHL but I do own EEV and SDS and my positions can change anytime without notice.
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Thanks for the post. Chine Mobile is now investing it neighbouring countries like Pakistan and India. And Pakistan is the potentional market for cellular products and services.