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5 Big Stocks to Trade for Gains

China Mobile

Another huge international communications stock that's tradable this week is China Mobile (CHL), the world's largest mobile phone carrier. With more than 600 million subscribers, that's a title that China Mobile earns pretty easily.

But ignore the fundamentals for a minute -- traders should be paying attention to the setup in China Mobile's shares.

>>5 Technical Setups to Trade This Week

That's because China Mobile is currently forming an "if/then setup," the result of CHL's sideways consolidation over the last several months. The horizontal resistance and support range make for a well-defined contingent trade in this stock:

Simply put, CHL's if/then setup works like this: If shares break out above $50 resistance, then buy. If shares break down below $46.50 support, then CHL is a short candidate.

Either way it progresses, I'd recommend placing a protective stop back just within the channel.
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