Is China Telecom (CHA) Ready to Breakout? - Tale of the Tape
29 January 2014 - 11:32PM
Zacks
China Telecom Corporation Limited
(CHA) could be a stock to avoid from a technical
perspective, as the firm is seeing unfavorable trends on the moving
average crossover front. Recently, the 50 Day Moving Average for
CHA broke out below the 200 Day Simple Moving Average, suggesting
short-term bearishness.
This has already started to take place, as the stock has moved
lower by 8.8% in the past four weeks. Plus, the company currently
has a Zacks Rank #4 (Sell) meaning that now could definitely be the
time to get out of this potentially in-trouble stock.
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