The stock of China Telecom Corporation Limited (ADR) (NYSE:CHA) gapped up by $1.15 today and has $78.02 target or 49.00% above today’s $52.36 share price. The 7 months technical chart setup indicates low risk for the $42.10 billion company. The gap was reported on Oct, 14 by Barchart.com. If the $78.02 price target is reached, the company will be worth $20.63B 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 14,708 shares traded hands. China Telecom Corporation Limited (ADR) (NYSE:CHA) has risen 3.48% since March 11, 2016 and is uptrending. It has underperformed by 1.98% the S&P500.
China Telecom Corporation Limited (ADR) (NYSE:CHA) Ratings Coverage
Out of 3 analysts covering China Telecom (NYSE:CHA), 1 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 33% are positive. China Telecom has been the topic of 6 analyst reports since August 21, 2015 according to StockzIntelligence Inc. The company was maintained on Tuesday, August 18 by Credit Suisse. The firm earned “Mkt Perform” rating on Friday, October 30 by Bernstein. The firm earned “Sell” rating on Friday, August 14 by Zacks. The stock has “Neutral” rating given by Citigroup on Thursday, August 20. The firm has “Neutral” rating by Citigroup given on Wednesday, June 15.
According to Zacks Investment Research, “China Telecom Corporation is a state-owned telecommunications company in China. They operate local telephone networks in ten provinces in China. They operate domestic and international fixed-line networks and infrastructure including wireless local loop, as well as telecom network-based voice, data, video, multimedia and information services. They are also engaged in international telecom service settlement and expand into overseas markets.”
More notable recent China Telecom Corporation Limited (ADR) (NYSE:CHA) news were published by: Marketwatch.com which released: “China Telecom Corp. Ltd. ADR” on August 27, 2009, also Benzinga.com with their article: “Mid-Day Market Update: Advanced Micro Devices Climbs After Chip Deal With …” published on October 14, 2016, Benzinga.com published: “Mid-Afternoon Market Update: Enzo Biochem Rises Following Q4 Results; Natural …” on October 14, 2016. More interesting news about China Telecom Corporation Limited (ADR) (NYSE:CHA) were released by: Investorplace.com and their article: “CHA: Buy China Telecom as Capital Markets Open Up” published on November 19, 2014 as well as Fool.com‘s news article titled: “Nokia Corp. (ADR) Scores A Big Telco Win In China” with publication date: August 17, 2016.
CHA Company Profile
China Telecom Corporation Limited, incorporated on October 10, 2002, is an integrated information service well-known provider in the People’s Republic of China (PRC). The Firm offers a range of telecommunications services, including wireline voice services, mobile voice services, Internet access services, value-added services, integrated information application services, telecommunications network resource services and lease of network equipment and other related services. It supports a range of end-to-end telecommunications services and enables customized products to be delivered for a range of telecommunications needs.
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