Rakuten Trade Research Reports

Foreign Equities (HK): CHINA MOBILE LTD

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Publish date: Tue, 21 May 2024, 10:52 AM
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TECHNICAL ANALYSIS

China Mobile might see an upward trend following its recent gap up and the formation of a long white candle a few sessions ago. Presently, the stock is on the verge of breaking out from a one-week rectangular pattern, targeting a resistance level of HKD74.95. Given the stock's distance from all the EMAs, we believe it has a good potential of staging a breakout.

Fundamentals

Net profit is expected to grow at a CAGR of 6% for the next 3 years with strong net margins higher than 13%.

Source: Rakuten Research - 21 May 2024

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