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The performance of China Mobile is absolutely crucial to the performance of the Chinese Xinhua Index. The Xinhua Index has a 10.18% weighting towards this cellular provider. This daily chart displays the projected price inflection levels.
The current support level of $46.53 is the price which bears are looking to break. A break below this level opens up the door to a very large decline which could end at $28.02. However, if CHL breaks above $50.91 before heading lower, an immediate rally up to $54.09 is expected. This rally could extend all the way up to between $56.55 - $57.16 before additional resistance is met.
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The additional support targets resulting from a break below $46.53 include:
The additional support targets resulting from a break below $46.53 include:
* $43.18
* $36.86
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