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ZTE
Ticker: 0763.HK
Price: HKD23.15
Company News
ZTE Corporation, a major international provider of telecommunications, enterprise and consumer technology solutions for the Mobile Internet, recently announced collaboration with True Corporation Public Company Limited (True) to build a commercial 5G network in Thailand. True, a fully licensed operator in Thailand, with a 30% market share in the mobile market of the country, will adopt ZTE’s 5G RAN products and services to build a commercial 5G network in Thailand.
ZTE will provide True with a series of products, including 5G 64TR/32TR/8TR/4TR macro stations and single-band/multi-band indoor QCell, to build a full-scenario and high-performance tri-band 5G network on 700MHz, 2.6GHz and 26GHz.
Featuring ultra-low latency, ultra-multi channels and ultra-high bandwidth, ZTE’s 5G products and technologies will enable True to rapidly improve the wireless system capacity and the user experience, thereby supporting True in building a leading 5G network in Southeast Asia in 2020.
Since 2019, ZTE has been working with True in various technical tests, jointly verifying multiple 5G products, including 3.5GHz 64-channel Massive MIMO, 2.6GHz 64-channel Massive MIMO and 2.6GHz QCell. In addition, ZTE and True have verified the leading 5G technologies, such as downlink 16-stream MU-MIMO and 4/5G carrier dynamic sharing.
Business Summary
ZTE Corporation is a China-based company principally engaged in the design, development, production, distribution and installation of a range of Information and Communication Technology (ICT) related systems, equipment and terminals.
The Company mainly operates its business through three segments: Carriers’ Network segment, Government and Corporate segment and Consumer segment.
Carriers’ Network segment mainly provides wireless network, wired network, core network and telecommunication software systems and services, as well as other technologies and product solutions.
Government and Corporate segment provides the government and corporate information projects with top-level design, consulting services and integrated information solutions.
Consumer segment is mainly involved in the development, production and sale of smart phones, mobile data terminals, family terminals and wearable devices, as well as the provision of related software applications and value-added services.
Price Performance
Relative Valuation
Technical Indicators
Overall, the bias in prices is: Downwards.
The projected upper bound is: 26.78.
The projected lower bound is: 19.61.
The projected closing price is: 23.20.
Candlesticks
A black body occurred (because prices closed lower than they opened).
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 20 white candles and 30 black candles for a net of 10 black candles.
Momentum Indicators
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.
Stochastic Oscillator
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 48.0447. 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 47.13. 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 sell 27 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 -32. This is not a topping or bottoming area. The last signal was a buy 2 period(s) ago.
MACD
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 11 period(s) ago.
Rex Takasugi – TD Profile
ZTE closed up 0.100 at 23.200. Volume was 72% below average (consolidating) and Bollinger Bands were 2% narrower than normal.
Open High Low Close Volume 23.500 23.500 22.850 23.200 5,884,520
Technical Outlook Short Term: Neutral Intermediate Term: Bearish Long Term: Bearish
Moving Averages: 10-period 50-period 200-period Close: 22.98 23.27 24.42 Volatility: 52 95 78 Volume: 16,817,120 23,386,348 17,935,660
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.
Summary
ZTE is currently 5.0% below its 200-period moving average and is in an downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods.
Our volume indicators reflect volume flowing into and out of 0763.HK at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on 0763.HK and have had this outlook for the last 6 periods.
