The US elections are closely watched, according to the latest news Biden is taking the lead in Georgia but the US presidential election continued to progress with a winner not yet officially announced. Joe Biden has a good shot at becoming the 46th President and Biden’s camp hopes they will cross the threshold of 270 very soon.
China Mobile (NYSE: CHL) shares have advanced from $30.6 above $32.6 in less than several days and the current price stands around $32.5. The main trend of this stock remains bearish and China Mobile is still not able to surpass the $35 resistance level.
Fundamental analysis: China Mobile stock is not overvalued
China Mobile provides mobile telecommunications in China, the company serves 950 million mobile customers and 187 million wireline broadband customers. China Mobile is handling the coronavirus threat very well and it is attracting investors’ attention in this uncertainty on the financial markets.
China Mobile has released recently Q3 earnings results, total revenue has increased by 1.4% Y/Y while Q3 net income was down only 0.3% Y/Y.
China Mobile shares have extended its correction from the recent highs above $38, registered in the third week of August. Despite this, there is no reason to panic and as long the price of China Mobile stock is above $30 this stock remains in the “buy” zone.
Shares of China Mobile could be a good investment option and most financial analysts are expecting its price to rise considerably in the next several years. The profitability of China Mobile is better than that of its competitors, the company has a stable dividend and has the intention to sustain payouts.
In the last ten years, the revenue
