China Life Insurance: Surging HigherChina Life Insurance Co. Ltd. Class HHKEX_DLY:2628HKCM_GlobalChina Life Insurance shares have surged recently, posting gains of around 15%. We see the price in a pullback and expect a corresponding low near support at HK$20.60. We anticipate this level will be reached through a three-part move, with corrective rallies likely before the price ultimately declines toward the HK$20.60 support. On the other hand, iIt’s possible that an even higher high could form above resistance at HK$36.16 before the anticipated sell-off unfolds (probability: 31%).