Wednesday, August 5, 2009

China telecom Corp. 52.64 -0.94 (-1.75%)

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China Telecom Corporation Limited is an integrated information service provider in the People’s Republic of China. -Google Finance.

Short term: Price will fall. Volume decrease is a sign that current upward price movement is decreasing in strength. However, it can shoot past the ceiling posting a possibility for big gains.

Long term: Price will rise. The channels slope upward.

Note: CHA has agreed, along with several other telecom businesses, to cooperate with Industrial and Commercial Bank of China in its 3g mobile banking business. CHA helped create the 2mil CDMA phone growth per month for the past 3 months by using promotions, tie-ins and subsidy policies. By the end of the year, expected 3g users will be a little less than 1/3 of all mobile users in China and the number is expected to grow to 40% by 2010. CHA is only one of three companies in China to hold a 3g license.

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