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5 Big Stocks to Trade for Gains

China Mobile

A similar setup is forming in shares of China Mobile (CHL), the world's largest cellular phone carrier. Like Wal-Mart, CHL has been handily beating the broad market in the last 12 months, rallying 17% over that period. Also like Wal-Mart, an ascending triangle pattern points to additional upside in shares in the near-term.

In China Mobile's case, resistance isn't quite as clear cut as it is for WMT. Instead of a single resistance level, CHL currently has resistance in a range between $55 and change and $56. The presence of that range complicates things a bit -- it makes a clear-cut breakout signal a lot harder for traders to process, especially now, with shares testing the lower bound of that range.

>>6 Tech Stocks That Rate Better Than Apple

I'd recommend scaling into a "test position" as shares push through that resistance line just over $55, then ramping up to a full-sized position on a break above that dashed $56 line. If you do decide to take the trade on CHL, I'd recommend keeping a protective stop just below the 50-day moving average -- it's mimicking that uptrending support level right now.
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ADI $48.84 -0.25%
CHL $52.39 -0.70%
MAT $29.96 -0.96%
PTR $56.42 -0.62%
WMT $65.32 -0.71%


Chart of I:DJI
DOW 15,660.18 -254.56 -1.60%
S&P 500 1,829.08 -22.78 -1.23%
NASDAQ 4,266.8370 -16.7550 -0.39%

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