China Mobile: If you have to own 1 name... for HKEX:941 by WellTrainedMonkey

trendanalysis harmonicpatterns chartpattern chinamobile 941 dividend ipo popcorn hk

If you have to own one name today right now, this is IT. Boring old cash rich China Mobile has been trading in this channel since 2009 and this is the 3x time 941 is testing the lower end of the range. There is 5% to pick up before it hits the 1st resistance and potentially +35% if it tests the top of the range. To sweeten the deal, if you hang on till the end of the month, specifically the 25th, the kind folks at China Mobile will cut you a check for 2.1% yield. If you need more convincing, China Mobile owns 38% of China Tower which just filed for a $10bn IPO in HK. State-own IPOs in HK are just like butter on popcorn, nothing will taste better than China Mobile when China Tower starts popping on IPO day.

Comment:

Right, 941 is c.1% from the 1st resistance levels and this might be a good time to lock in some profits (c.4% + 2.1% divy) and see if there is a retracement.

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