Cloud theory implies rally at telecom co

China Mobile shares may rise to HK$90, says Hong Kong observer

China Mobile Ltd, the world's biggest phone carrier, may rally 13 percent after breaking out of a so-called "ichimoku cloud" this week, according to technical analysis by BTIG Hong Kong Ltd.

Christian Kielland, head of trading at BTIG, said China Mobile will rally toward the HK$90 level after analyzing the stock using the Japanese method of "ichimoku kinko", which looks at wave patterns and repeating trends. The stock closed at HK$78.9 last week.