China Unicom (Hong Kong) Ltd (CHU) : Traders are bullish on China Unicom (Hong Kong) Ltd (CHU) as it has outperformed the S&P 500 by a wide margin of 15.28% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 12.18%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 12.15% in the last 1 week, and is up 15.72% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
China Unicom (Hong Kong) Limited is up 10.8% in the last 3-month period. Year-to-Date the stock performance stands at -0.5%. The stock has recorded a 20-day Moving Average of 12.73% and the 50-Day Moving Average is 14.67%.
China Unicom (Hong Kong) Ltd (NYSE:CHU): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $11.90 and $11.86 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $12.00. The buying momentum continued till the end and the stock did not give up its gains. It closed at $12.00, notching a gain of 2.74% for the day. The total traded volume was 529,498 . The stock had closed at $11.68 on the previous day.
Also, In the latest statement by the brokerage house, Bernstein upgrades its outlook on China Unicom (Hong Kong) Ltd (NYSE:CHU). The current rating of the shares is Outperform, according to the research report released by the firm. Previously, the company had a rating of Market Perform. The rating by the firm was issued on August 18, 2016.
China Unicom (Hong Kong) Limited is an investment holding company, which provides telecommunications services. The Companys subsidiaries principal activities are the provision of cellular and fixed-line voice and services, broadband and other Internet-related services, information communications technology services, and business and data communications services in the PRC. It provides a range of telecommunications services in China, including mobile broadband, fixedline broadband, global system for mobile communications (GSM), fixed-line local access, information and communications technology (ICT), data communications and other related services. The Companys subsidiaries include China United Network Communications Corporation Limited, China Unicom (Japan) Operations Corporation, and China Unicom (Singapore) Operations Pte Limited, among others.