Comprehensive non-correlated China Mobile $CHL Trading Report
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Review the CHL Trading Plans:
Long Term Trading Plans for CHL
October 21, 2020, 2:45 am ET
The Technical Summary and Trading Plans for CHL help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this CHL Report.
CHL - (Long) Support Plan
The technical summary data tells us to buy CHL near 30.96 with an upside target of 33.67. This data also tells us to set a stop loss @ 30.87 to protect against excessive loss in case the stock begins to move against the trade. 30.96 is the first level of support below 32.46 , and by rule, any test of support is a buy signal. In this case, support 30.96 would be being tested, so a buy signal would exist.
CHL - (Short) Resistance Plan
The technical summary data is suggesting a short of CHL as it gets near 33.67 with a downside target of 30.96. We should have a stop loss in place at 33.77 though. 33.67 is the first level of resistance above 32.46, and by rule, any test of resistance is a short signal. In this case, if resistance 33.67 is being tested, so a short signal would exist.