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Semtech said its FX86E 5G RedCap modem is now certified on AT&T's network. The stock is down 4.1% on the day at $177.37.
Semtech said its FX86E 5G RedCap modem has received certification to operate on the AT&T network. The modem enables plug-and-play connectivity across both 5G RedCap and 4G LTE networks. The company stated that this device removes the need for months of development time and additional certification costs.
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The intraday range in the latest session widened well beyond the weekly average, between $176.05 and $190.64. Shares of Semtech continue to hold above their MA-20, MA-50, and MA-200, which maintains a bullish daily structure. The nearest resistance is the weekly high at $185.18. RSI now sits at 67.2, nearing overbought territory and suggesting the recent advance may be getting stretched.
A close above $185.18 would indicate buyers are prepared to follow through on the recent move. During the last session, price moved sharply between $176.05 and $190.64. Although shares saw a sharp move lower over the past week without a sustained trend, upside probability is more than 80% over the next five trading days, while downside probability is less than 20%, with an expected trading range from $161.18 to $193.55. A drop below $150.32 would show the move is being faded. On the weekly chart the longer-term picture stays firmly constructive.
Previously it was reported that Semtech’s introduction of its advanced 224G solutions maintained a constructive long-term technical outlook supported by strong price structure. The latest AT&T certification for its 5G RedCap modem adds a new growth driver, and with shares holding above major moving averages, continued focus should remain on whether price can secure a decisive weekly close above $185.18 to confirm further upside momentum.