Trade idea for China Mobile (HKEH)

#CHINAMOB

The trend is ascendant. The share trades in the range of 365 and 135 moving averages. There is a bullish divergence on the Awesome Oscillator, the Stochastic Oscillator signals the oversold conditions.

Trade idea:

Buy when the ascending wave pattern is formed, where the wave (A) breaches the inclined channel of the descending pattern.

Stop-loss is below the local minimum of the descending pattern and the “10 points” filter.

Target levels: 56.28; 58.43.