China Unicom Hong Kong (NYSE:CHU) was upgraded from Underweight to Neutral at HSBC today. The stock closed yesterday at $12.78 on volume of 1.3 million shares, above average daily volume of 1.1 million.Over the past year, China Unicom Hong Kong has traded in a range of $12.17 to $22.50 and closed yesterday at $12.78, 5% above that low. The 200-day and 50-day moving averages have moved 0.77% lower and 1.73% lower over the past week, respectively.China Unicom (Hong Kong) Limited, through its subsidiaries, provides telecommunications services in the People's Republic of China. The Company's services include cellular, paging, long distance, data, and Internet services.China Unicom Hong Kong (NYSE:CHU) has potential upside of 61.2% based on a current price of $12.78 and analysts' consensus price target of $20.60. The stock should run into initial resistance at its 50-day moving average (MA) of $14.76 and subsequent resistance at its 200-day MA of $18.22.
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