Today’s Stock On Watch: Is Major Move Coming For China Unicom (Hong Kong) Limited (ADR) After This Gap Up?

Today's Stock On Watch: Is Major Move Coming For China Unicom (Hong Kong) Limited (ADR) After This Gap Up?

The stock of China Unicom (Hong Kong) Limited (ADR) (NYSE:CHU) gapped up by $0.34 today and has $19.46 target or 52.00% above today’s $12.80 share price. The 7 months technical chart setup indicates low risk for the $30.36B company. The gap was reported on Oct, 14 by If the $19.46 price target is reached, the company will be worth $15.79 billion more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 463,069 shares traded hands. China Unicom (Hong Kong) Limited (ADR) (NYSE:CHU) has risen 3.36% since March 11, 2016 and is uptrending. It has underperformed by 2.10% the S&P500.

China Unicom (Hong Kong) Limited (ADR) (NYSE:CHU) Ratings Coverage

Out of 7 analysts covering China Unicom (NYSE:CHU), 6 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 86% are positive. China Unicom has been the topic of 11 analyst reports since July 31, 2015 according to StockzIntelligence Inc. Jefferies downgraded China Unicom (Hong Kong) Limited (ADR) (NYSE:CHU) on Monday, July 18 to “Hold” rating. As per Thursday, February 4, the company rating was upgraded by HSBC. As per Wednesday, April 6, the company rating was upgraded by Morgan Stanley. Bernstein downgraded the stock to “Mkt Perform” rating in Friday, October 30 report. Jefferies maintained China Unicom (Hong Kong) Limited (ADR) (NYSE:CHU) rating on Friday, October 23. Jefferies has “Buy” rating and $15.90 price target. On Monday, August 24 the stock rating was upgraded by Jefferies to “Buy”. The stock of China Unicom (Hong Kong) Limited (ADR) (NYSE:CHU) earned “Buy” rating by CLSA on Wednesday, March 9. The stock of China Unicom (Hong Kong) Limited (ADR) (NYSE:CHU) has “Buy” rating given on Wednesday, March 30 by Deutsche Bank. The firm earned “Buy” rating on Thursday, September 22 by Goldman Sachs. The stock of China Unicom (Hong Kong) Limited (ADR) (NYSE:CHU) earned “Hold” rating by HSBC on Friday, July 31.

According to Zacks Investment Research, “China Unicom Limited is engaged in the provision of cellular, paging, long distance, data and internet services in the People’s Repulic of China.”

More recent China Unicom (Hong Kong) Limited (ADR) (NYSE:CHU) news were published by: which released: “China Unicom (Hong Kong) Ltd. ADR” on August 28, 2009. Also published the news titled: “Mid-Afternoon Market Update: Enzo Biochem Rises Following Q4 Results; Natural …” on October 14, 2016.‘s news article titled: “DOW JONES, A NEWS CORP COMPANY” with publication date: February 11, 2011 was also an interesting one.

CHU Company Profile

China Unicom (Hong Kong) Limited, incorporated on February 8, 2000, is an investment holding company. The Firm is an integrated telecommunications operator. The principal activities of the Company’s subsidiaries are the provision of cellular and fixed-line voice and related services, broadband and other Internet-related services, information communications technology services, and business and data communications services in the People’s Republic of China (PRC).

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