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.