China Mobile price forecast: More downside ahead? Bearish signals dominate trading

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China mobile falls 1.06% today

Highlights

China Mobile Limited trades at $84.30, below both the MA-20 and MA-50, showing short- and medium-term weakness despite remaining above the MA-200 at $83.76.
Third-quarter service revenue rose 0.8% year-on-year to RMB216 billion and net profit increased 1.9%, but both trailed forecasts as EBITDA fell 1.7% due to higher operating expenses.
Near-term probability of a price rise is low (less than 20%), with an anticipated five-day range of $82.45 to $83.25 barring a break above $85.38 resistance.

Profit misses forecast as higher costs weigh despite revenue growth

China Mobile reported a 0.8% year-on-year increase in third-quarter service revenue to RMB216 billion, with net profit rising 1.9% year-on-year but coming in below market forecasts. EBITDA declined by 1.7% year-on-year due to higher operating expenses. The Hong Kong Office of the Communications Authority completed a spectrum auction totaling $202 million, which may impact China Mobile's future network capacity and competitiveness.

Mixed momentum and volatility as intraday weakness clashes with bullish bias

Current momentum signals present a mixed picture: the daily MACD points to strong selling, but ADX is in buy territory, highlighting some market indecision. Oscillators indicate an overbought situation on Stoch RSI and CCI, while daily RSI sits in neutral/buy territory. BBP suggests buyers have recent momentum, though price action is down on the day, slipping $0.90 or 1.06%. There was no meaningful gap between the previous close ($85.20) and today’s open ($85.30). Price is now near the daily low within today’s $84.25 – $85.30 range, reflecting moderate volatility and intraday pressure following the open. The Awesome Oscillator's positive trend supports the long-term bias, but with clear divergences among oscillators and momentum indicators, intraday weakness conflicts with some underlying bullish signals.

Range-bound trade favored as upside capped by weak technicals

For the next five trading days, the anticipated range is $82.45 to $83.25, with the average price near $82.85. Only one of RSI-W1, ADX-W1, MACD-W1, and MA-50-W1 is bullish, so the probability of a rise is very low (less than 20%). A decline remains more likely. In the baseline scenario, price trades sideways within the current corridor. A bullish move would require breaking above the resistance at $85.38, which could open the way for further gains. If support at $83.76 fails, the bearish scenario could drive the price towards the weekly low target near $82.45.

Anton Kharitonov, expert at Traders Union, sees a cautious technical environment for China Mobile Limited as short-term and medium-term trend signals are bearish, with price struggling below key resistance at $85.38. Despite some long-term support above the MA-200 and mixed oscillator signals, ongoing intraday weakness and disappointing profit data reflect downside risk, especially with rising operating expenses and sector regulatory developments. Kharitonov remains skeptical that a sustainable rally can emerge without a clear break above resistance, and favors a defensive approach until support levels are tested. "Base case remains sideways to lower; until $85.38 is broken, I stay neutral and prefer to wait on the sidelines."

Previously it was noted that China Mobile reported steady Q3 2025 results, with notable growth in both mobile and fixed broadband segments. The article highlighted mixed technical momentum and mentioned the risk of sideways price movement due to conflicting technical signals.

Source of Data: 0941 Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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