China Unicom (Hong Kong) Limited (HKG:0762) HEFFX Highlights

China Unicom (Hong Kong) Limited (HKG:0762) HEFFX Highlights

China Unicom (Hong Kong) Limited (HKG:0762) HEFFX Highlights

China Unicom Hong Kong Ltd

May aggregate number of mobile billing subscribers 268.357 million

In May ‍fixed-line business aggregate number of fixed-line broadband subscribers 76.905 million​

May net addition of mobile billing subscribers 1.053 million Source text for Eikon

elcos are the last group of beneficiaries, but the analysts are still recommending a “buy” on China Unicom. “If the government wants Unicom to build a 5G network of reasonable scale so as to compete with CM (China Mobile) and CT (China Telecom), we believe lowering its cost structure by giving it the spectrum at 700 MHz is the only way to achieve that,” wrote analysts Edison Lee and Timothy Chau. “The entire industry’s capex will likely not fall a lot but all the savings could go to Unicom, which should be a boost to its valuation.”

China’s big three operators – China Mobile, China Telecom and China Unicom – added another 24.3 million 4G subscribers in May, boosting their total net additions during the opening five months of 2017 to 102 million.

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, enterprise businesses and international businesses. 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. Its enterprise businesses include the provision of voice services and the provision of information total solutions, among others. Its international businesses include cross-border leasing line businesses and cross-territory networking businesses, among others.

Overall, the bias in prices is: Upwards.

Short term: Prices are stalling.

Intermediate term: Prices are trending.

Note: this chart shows extraordinary price action to the upside.

The projected upper bound is: 12.07.

The projected lower bound is: 10.85.

The projected closing price is: 11.46.

CHINA UNICOM closed up 0.120 at 11.440. Volume was 21% below average (neutral) and Bollinger Bands were 42% narrower than normal.

Open      High       Low         Close       Volume
11.340    11.460    11.280     11.440     37,360,640

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

Moving Averages: 10-period        50-period        200-period
Close:                       11.31                 10.71                 9.65
Volatility:                16                      37                      33
Volume:                   33,998,284     42,101,588     48,411,664

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 is currently 18.5% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect volume flowing into and out of 0762.HK at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on 0762.HK and have had this outlook for the last 18 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 78.4615. This is not an overbought or oversold reading. The last signal was a sell 13 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 63.53. 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 48 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 71. This is not a topping or bottoming area. The last signal was a sell 12 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 sell 6 period(s) ago.

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John Heffernan

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

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