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5 Big Trades to Take This Year

China Mobile


We're seeing the exact opposite setup in shares of Chinese cellular carrier China Mobile (CHL) -- and after a major breakdown late last week, CHL looks primed for more downside ahead. China Mobile is currently forming a descending triangle, the bearish opposite to the bullish setup in Bunge.

>>5 Ways You Can Trade Like a Hedge Fund in 2014

Support just below $52 acted as a price floor for shares all the way back since August, but the breakdown last week took out any buying pressure at that level, triggering a sell signal for shares. $47 is the next-lowest support zone to watch in the next few weeks.

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Momentum adds some extra downside evidence for CHL: 14-day RSI has been trending lower since this pattern started forming. That's an indication that prices are falling at an increasing rate in China Mobile right now.

For a quick short trade, CHL looks like a good option this week.

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SYM TRADE IT LAST %CHG
AET $114.53 -2.00%
BG $72.45 -0.17%
CHL $59.82 0.13%
TGT $77.71 -0.41%
AAPL $112.77 -0.46%

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Chart of I:DJI
DOW 16,528.03 -114.98 -0.69%
S&P 500 1,972.18 -16.69 -0.84%
NASDAQ 4,776.5080 -51.8170 -1.07%

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