Aug 22, 2011 (SmarTrend(R) News Watch via COMTEX) -- Shares of China Mobile (NYSE:CHL - Snapshot Report) are trading up 2.3% to $50.05 today on above average volume. Approximately 2.3 million shares have traded hands today vs. average 30-day volume of 2 million shares.

Spikes in volume can validate a breakout or signify a potential turning point. As such, SmarTrend will continue to monitor shares of CHL to see if this bullish momentum will continue.

SmarTrend is monitoring the recent change of momentum in China Mobile. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of China Mobile in search of a potential trend change.

In the last five trading sessions, the 50-day MA has climbed 0.75% while the 200-day MA has remained constant.

In the past 52 weeks, shares of China Mobile have traded between a low of $43.51 and a high of $54.70 and are now at $49.95, which is 15% above that low price.

Source:zacks