China Mobile (CHL) NewsBite - CHL Rises on Chinese Stimulus Package

Monday, November 10, 2008 11:19 AM EDT

China Mobile (NYSE: CHL) opened at $45.78. So far today, the stock has hit a low of $44.90 and a high of $46.26. CHL is now trading at $44.95, up $1.09 (2.49%). Over the last 52 weeks the stock has ranged from a low of $34.33 to a high of $96.45. CHL shares are rising with other Chinese ADRs today after the Chinese government announced a $586 billion stimulus package intended to boost its economy. 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 a December out-of-the-money bull-put credit spread below the 35 range. [ABR-Seven Summits Strategic Investments NewsBite]

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