China Unicom (Hong Kong) Limited (ADR) (NYSE:CHU) HEFFX Highlights

China Unicom (Hong Kong) Limited (ADR) (NYSE:CHU) HEFFX Highlights

China Unicom (Hong Kong) Limited (ADR) (NYSE:CHU) HEFFX Highlights

  • Alibaba and Tencent are expected to lead new private investors and get seats on the board of Shanghai-listed parent of the world’s sixth-largest mobile network operator, with 268.3 million subscribers as of May 31.
  • China Unicom (Hong Kong) on Wednesday reported 1.09 million net addition of mobile billing subscribers in June, bringing the aggregate number of mobile billing subscribers to 269.45 million.
  • Net addition of mobile billing subscribers was 1.05 million in May.
  • Last month, aggregate 4G subscribers was 138.81 million, while aggregate fixed-line broadband subscribers was 76.92 million, the telecom carrier said in an exchange filing.

China Unicom (Hong Kong) Limited is a Hong Kong-based investment holding company principally engaged in the provision of telecommunications services. The Company’s businesses include mobile businesses, fixed-line businesses and others. Its mobile businesses include the provision of call services, roaming services, mobile broadband services, traditional value-added services such as short message services, multimedia message services and wireless Internet access card, as well as new value-added services such as mobile music, mobile television and Wo portal services. Its fixed-line businesses include broadband and Internet networks businesses, among others. The Company’s subsidiaries include CUCL, China Unicom Global Limited and China Unicom (Europe) Operations Limited.

Overall, the bias in prices is: Upwards.

Short term: Prices are moving.

Intermediate term: Prices are ranging.

The projected upper bound is: 15.50.

The projected lower bound is: 14.11.

The projected closing price is: 14.81.

CHINA UNICOM closed up 0.190 at 14.770. Volume was 69% above average (neutral) and Bollinger Bands were 36% wider than normal.

Open         High         Low          Close        Volume
14.670      14.790      14.670      14.770      552,726

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish

Moving Averages: 10-period      50-period      200-period
Close:                       14.15              14.27               12.74
Volatility:                31                   31                     33
Volume:                  379,403         327,077          308,188

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

CHINA UNICOM gapped up today (bullish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
CHINA UNICOM is currently 15.9% above its 200-period moving average and is in an downward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of CHU at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on CHU and have had this outlook for the last 10 periods.

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 91.6456. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 6 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 58.25. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 16 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 74. This is not a topping or bottoming area. The last signal was a buy 7 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 1 period(s) ago.

The following two tabs change content below.

John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

Latest posts by John Heffernan (see all)

You must be logged in to post comments :  
CONNECT WITH