$CHA #USA #NYSE #China #Stocks #ChinaTelecom #ShayneHeffernan
China Telecom looks to 5G SA to fuel quantum leap
Target Price: $48.92
China telecom chairman and CEO Ke Ruiwen backed standalone (SA) 5G to lead major changes across society, helping to power advanced IT platforms and fuel the digital economy.
During the primary keynote session, Ke said SA 5G went much further than an evolution in technology and would result in such increased performance it would produce a “quantum change in communications”.
“This will provide diverse personalised businesses and services, introduces cloud-based architecture and technologies,” he said adding this could be brought about by the integration of communications technology and IT.
The resulting architecture is predicted to provide the backbone for network slicing, edge computing, big data and AI applications.
“We believe that internet and cloud integration is the essential path for development of society. Currently IT infrastructure is beyond the scope of traditional communications networks,” he noted. “The relationship between cloud and network in the past was about cloud adapting to the network however now the network needs to adapt to the cloud.”
He went on to cite the important role technologies enabled by SA 5G would play in the digital economy: “Penetration will define how fast and how developed information technology in the future will be.”
Earlier on day one of Thrive, China Telecom’s deputy MD of its 5G innovation centre Lei can detailed progress made on the operator’s own standalone 5G strategy.
China Telecom Corporation Limited is an investment holding company principally engaged in telecommunications and related businesses.
The Company provides integrated information services, including wireline and mobile telecommunications services, Internet access services, information services and other value-added telecommunications services. The Company mainly operates its business in domestic market.
Shayne Heffernan Trade Idea
“Our current price target of China Telecom will come in around $48.92 giving the stock a price increase of +66.28%.”
Overall, the bias in prices is: Downwards.
Note: this chart shows extraordinary price action to the downside.
By the way, prices are vulnerable to a correction towards 31.87.
The projected upper bound is: 31.16.
The projected lower bound is: 27.54.
The projected closing price is: 29.35.
A big white candle occurred. This is generally considered bullish, as prices closed significantly higher than they opened. If the candle appears when prices are “low,” it may be the first sign of a bottom. If it occurs when prices are rebounding off of a support area (e.g., a moving average, trendline, or retracement level), the long white candle adds credibility to the support. Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 14 white candles and 36 black candles for a net of 22 black candles.
A rising window occurred (where the top of the previous shadow is below the bottom of the current shadow). This usually implies a continuation of a bullish trend. There have been 11 rising windows in the last 50 candles–this makes the current rising window even more bullish.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 49.3783. This is not an overbought or oversold reading. The last signal was a buy 1 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 46.32. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 70 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 29. This is not a topping or bottoming area. The last signal was a buy 0 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 15 period(s) ago.
Rex Takasugi – TD Profile
CHINA TELECOM CP closed up 1.270 at 29.420. Volume was 30% below average (neutral) and Bollinger Bands were 25% narrower than normal.
Open High Low Close Volume 29.000 29.520 29.000 29.420 92,802
Technical Outlook Short Term: Neutral Intermediate Term: Bearish Long Term: Bearish
Moving Averages: 10-period 50-period 200-period Close: 28.88 31.35 37.31 Volatility: 37 37 42 Volume: 112,250 124,282 95,706
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
CHINA TELECOM CP gapped up today (bullish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
CHINA TELECOM CP is currently 21.2% below its 200-period moving average and is in an downward trend. Volatility is Our volume indicators reflect volume flowing into and out of CHA at a relatively equal pace (neutral).
Our trend forecasting oscillators are currently bearish on CHA and have had this outlook for the last 34 periods. Our momentum oscillator has set a new 14-period high while the security price has not. This is a bullish divergence.
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