CHINA UNICOM may trend higher after it broke out from the two-week bullish flag pattern two sessions ago. In view of the stock pulling further away from all EMAs, this has enhanced the bullish momentum. We expect the rising momentum to steer the stock higher and test the next level of resistance in the near term.
Net profit is expected to grow at a CAGR of 9% for the next 3 years with strong net margins higher than 5%.
Source: Rakuten Research - 25 Jul 2024
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