Term: Short Term
Target Price: PHP 5.85
Last Traded Price: PHP 5.66
P/E Ratio: 11.75x
P/B Ratio: 5.88x
Support: PHP 5.40
Resistance: PHP 5.85
MTD Performance: -7.61%
YTD Performance: -19.96%
- Quintel, a division of TECH, is ramping up 5G antennas in preparation for the introduction of 5G complementary products for customers amid significant demand.
- However, the short-term trend is down, which may continue if it fails to hold above the present support zone.
Cirtek/Quintel accelerates the deployment of 5G antennas. Telcos plan ahead for a large portion of the work on 5G network designs to be completed before spectrum is authorized for commercial usage. The global 5G base station market is expected to develop at a CAGR of 32% between 2020 and 2028, reaching a market size of USD177 billion by 2028. Additionally, the firm is seeking the Board’s permission to extend the 6-month timeframe for the growth in Authorized Capital Stock (PSE Edge)
Expansion of its Quintel business is a favorable development, since it may boost Cirtek’s profits. The global economy’s revival, notably in the United States, would benefit the corporation, while many uncertainties remain in the Philipines.
The stock is still in a downtrend, with lower lows and lower highs. There is currently no indication of a turnaround and the price may continue to slide into the P5.05 support area. P5.40 serves as immediate support, whereas P5.85 serves as resistance. P6.25 is the price at which strong resistance is expected. Execute cutloss that is 5-7 percent less than your purchase price.