China Mobile (941 HK): Expecting Price Mark Up

China Mobile (941 HK)

Expecting Price Mark Up

5G Adoption and cloud application continues to pick up in China. The telco is expected to benefit from this trend and was reflected in the latest reporting. Revenue grew 6.8% yoy, as company hike its dividend payout to HK$2.43, up 10.50% yoy.

Technically, stock performs relatively stronger than market index HSI, which indicates demand from market participants. As price broke above key resistance at HK$65.75, which Fund Flow Index (FFI) is positive, we expect price momentum to continue.

First technical target at S$69.55, while stop loss is set at HK$63.60.

CM 941 Interim Results:

https://www.chinamobileltd.com/en/file/view.php?id=286974

Disclaimers apply

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