China Mobile (NYSE: CHL) NewsBite - CHL Hits 52-Week Low

Posted on Tuesday, August 19, 2008 3:54 PM
China Mobile (NYSE: CHL) hit a new 52-Week low of $57.65 so far today. Currently the stock is down $1.10 (-1.86%) to $58.15 on 2,169,739 shares traded. Today's low is down $45.85 from a 52-Week high of $104.00. China Mobile stock has been showing support around $58.46 and resistance in the $60.62 range. Technical indicators for the stock are bullish and S&P gives CHL a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on CHL the stock seems like it could be a candidate for an October out-of-the-money bear-call credit spread above the 70 range. [ABR-Seven Summits Strategic Investments NewsBite]
Stocks To Watch Today: MS, PBR, GM, F, MRK, BTU, NEM, BJ, PRU, UNP, TEVA, ACE (Click Symbol For Latest News)

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