(via COMTEX News Network)–SmarTrend identified a Downtrend for China
Telecom (NYSE: CHA) on November 02, 2010 at $51.66. In approximately 1 month, China Telecom has returned 3.4% as of today’s recent price of $49.91.
In the past 52 weeks, shares of China Telecom have traded between a low of $40.28 and a high of $56.21 and are now at $49.91, which is 24% above that low price.
China Telecom is currently below its 50-day moving average of $53.01 and should find support at its 200-day moving average of $49.49. Look for these moving averages to decline to confirm the company’s downward momentum.
In the last five trading sessions, the 50-day MA has fallen 0.55% while the 200-day MA has risen 0.43%.
SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any changes in momentum for shares of China Telecom.
Write to Chip Brian at cbrian@tradethetrend.com
Article via Trade the Trend
Telecom (NYSE: CHA) on November 02, 2010 at $51.66. In approximately 1 month, China Telecom has returned 3.4% as of today’s recent price of $49.91.In the past 52 weeks, shares of China Telecom have traded between a low of $40.28 and a high of $56.21 and are now at $49.91, which is 24% above that low price.
China Telecom is currently below its 50-day moving average of $53.01 and should find support at its 200-day moving average of $49.49. Look for these moving averages to decline to confirm the company’s downward momentum.
In the last five trading sessions, the 50-day MA has fallen 0.55% while the 200-day MA has risen 0.43%.
SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any changes in momentum for shares of China Telecom.
Write to Chip Brian at cbrian@tradethetrend.com
Article via Trade the Trend
