The next revolution in mobile technology seems to be driven by China. 5G, the fifth-generation mobile network still does not exist, but aims to provide a faster data rate and a wider frequency range.
Market participants, who have been looking the investment and cash flow into new technologies, expect the 5G network to be put into operation by 2020, and by 2023, the number using 5G to exceed 1 billion, with more than half being China consumers.
At present, China dominates the 5G developments thanks to its political ambitions to lead the global development of technology. Facts about this are the ruthless upsurge of Huawei local maker and the speed with which Chinese users upgraded to 4G.
Despite all the administrative obstacles on the part of governments in Europe and the United States, several technology companies have shown progress. Qualcomm, for example, convinced that it had demonstrated the first 5G data connection on a mobile device. The velocity generated during the test will allow a drawing speed of 1000 mb/s. or in other words a two-hour HD movie will be down for about 12 seconds.
The Qualcomm technical price forms an inverted H&S, and the breakthrough breakthrough is also a breakthrough in the mid-term downward channel - positive for the price. We have a breakthrough 50SMA dynamic resistance - positive for the price. Demarker does not signal and it's good to wait for the price to drop to the pierced mid-diagonal where we look for a suitable Price Action Purchase Signal. Entry there would be suited to a remote SL at $48.00.
Alternative scenario: If the price drops below the long-term ascending diagonal, the positive scenario will deteriorate, and we may see a deeper adjustment.
Source: Bloomberg Pro Terminal
Jr Trader Petar Milanov
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