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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – January 13th, 2021

Bob Mason
·6 min read

Ethereum

Ethereum fell by 3.56% on Tuesday. Following on from Monday’s 13.25% tumble, Ethereum ended the day at $1,049.79.

It was a choppy day. Ethereum fell to an early morning low $1,040.00 before finding support.

While steering clear of the first major support level at $909.11, Ethereum fell through the 23.6% FIB of $1,051.

Finding early morning support, Ethereum struck a mid-morning intraday high $1,150.00 before hitting reverse.

While falling short of the first major resistance level at $1,264, Ethereum broke back through the 23.6% FIB.

The reversal, however, saw Ethereum slide to an early afternoon intraday low $1,006.83.

Ethereum fell back through the 23.6% FIB of $1,051 before revisiting $1,100 levels.

A bearish end to the day, however, saw Ethereum slide back through the 23.6% FIB to end the day at sub-$1,050 levels.

At the time of writing, Ethereum was down by 1.62% to $1,032.83. A bearish start to the day saw Ethereum fall from an early morning high $1,050.46 to a low $1,027.00.

Ethereum left the major support and resistance levels untested early on.

For the day ahead

Ethereum would need to move through the 23.6% FIB and the pivot level at $1,069 to support a run at the first major resistance level at $1,131.

Support from the broader market would be needed, however, for Ethereum to break back through to $1,100 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $1,150.00 would likely cap any upside.

In the event of an extended crypto rally, Ethereum could test resistance at $1,250 before any pullback. The second major resistance level sits at $1,212.

Failure to move through the 23.6% FIB and the $1,069 pivot would bring the first major support level at $988 into play.

Barring another extended sell-off, however, Ethereum should steer well clear of sub-$900 levels. The second major support level at $926 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $988

Pivot Level: $1,069

First Major Resistance Level: $1,131

23.6% FIB Retracement Level: $1,051

38.2% FIB Retracement Level: $866

62% FIB Retracement Level: $566

Litecoin

Litecoin fell by 4.28% on Tuesday. Following on from an 18.09% slump on Monday. Litecoin ended the day at $133.39.

A mixed start to the day saw Litecoin rise to a mid-morning intraday high $146.88 before hitting reverse.

While falling short of the first major resistance level at $170.00, Litecoin came within range of the 23.6% FIB of 148.

The reversal saw Litecoin slide to an early afternoon intraday low $128.00.

Steering clear of the 38.2% FIB of $125 and the first major support level at $110, Litecoin revisited $141 levels.

A bearish end to the day, however, saw Litecoin slide back to end the day at $133 levels.

At the time of writing, Litecoin was down by 1.68% to $131.15. A bearish start to the day saw Litecoin fall from an early morning high $133.36 to a low $130.79.

Litecoin left the major support and resistance levels untested early on.

For the day ahead

Litecoin would need to move through the $136 pivot level to support a run at the first major resistance level at $144.

Support from the broader market would be needed, however, for Litecoin to break back through to $140 levels.

Barring an extended crypto rally, the first major resistance level and the 23.6% FIB of $148 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at the second major resistance level at $155.

Failure to move through the $136 pivot level would bring the 38.2% FIB of $125 and the first major support level at $125 into play.

Barring another extended sell-off, Litecoin should steer clear of sub-$120 levels and the second major support level at $117. The 38.2% FIB of $125 and first major support level should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $125

Pivot Level: $136

First Major Resistance Level: $144

23.6% FIB Retracement Level: $148

38.2% FIB Retracement Level: $125

62% FIB Retracement Level: $87

Ripple’s XRP

Ripple’s XRP rose by 1.66% on Tuesday. Partially reversing an 8.63% slide on Monday, Ripple’s XRP ended the day at $0.29251.

It was a bearish start to the day. Ripple’s XRP fell to an early morning low $0.27945 before making a move.

Steering clear of the first major support level at $0.2555, Ripple’s XRP struck an early morning intraday high $0.3100.

Falling short of the first major resistance level at $0.3180, Ripple’s XRP slid to an early afternoon intraday low $0.2775.

Steering clear of the major support levels once more, Ripple’s XRP revisited $0.30 levels before easing back.

At the time of writing, Ripple’s XRP was down by 1.15% to $0.28916. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.2925 to a low $0.2877.

Ripple’s XRP left the major support and resistance levels untested early on.

For the day ahead

Ripple’s XRP will need to move through the $0.2933 pivot level to bring the first major resistance level at $0.3092 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.30 levels.

Barring another extended crypto rally, the first major resistance and Tuesday’s high $0.3100 would likely cap any upside.

In the event of another extended rally, Ripple’s XRP could test resistance at the 23.6% FIB of $0.3172 and resistance at $0.32. The second major resistance sits at $0.3258.

Failure to move through the $0.2933 pivot would bring the first major support level at $0.2767 into play.

Barring another extended crypto sell-off, Ripple’s XRP should steer clear of sub-$0.25 levels. The second major support level at $0.2608 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.2767

Pivot Level: $0.2933

First Major Resistance Level: $0.3092

23.6% FIB Retracement Level: $0.6274

38.2% FIB Retracement Level: $0.5285

62% FIB Retracement Level: $0.3687

Please let us know what you think in the comments below.

Thanks, Bob

This article was originally posted on FX Empire

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If the Fed eases up on the low-rate policy, Yardeni sees Treasuries reflecting the change first.A situation like this is tailor-made for defensive stock plays – and that will naturally bring investors to look at high-yield dividend stocks. Opening up the TipRanks database, we’ve found three stocks featuring a hat trick of positive signs: A Strong Buy rating, dividend yields starting at 9% or better – and a recent analyst review pointing toward double-digit upside.CTO Realty Growth (CTO)We'll start with CTO Realty Growth, a Florida-based real estate company that, last year, made an exciting decision for dividend investors: the company announced that it would change its tax status to that of a real estate investment trust (REIT) for the tax year ending December 31, 2020. REITs have long been known for their high dividend yields, a product of tax code requirements that these companies return a high percentage of their profits directly to shareholders. Dividends are usual route of that return.For background, CTO holds a varied portfolio of real estate investments. The holdings include 27 income properties in 11 states, totaling more than 2.4 million square feet, along with 18 leasable billboards in Florida. The income properties are mainly shopping centers and retail outlets. During the third quarter, the most recent reported, CTO sold off some 3,300 acres of undeveloped land for $46 million, acquired two income properties for $47.9 million, and collected ~93% of contractual base rents due. The company also authorized a one-time special distribution, in connection with its shift to REIT status; its purpose was to put the company in compliance with income return regulation during tax year 2020. The one-time distribution was made in cash and stock, and totaled $11.83 per share.The regular dividend paid in Q3 was 40 cents per common share. That was increased in Q4 to $1, a jump of 150%; again, this was done to put the company in compliance with REIT-status requirements. At the current dividend rate, the yield is 9.5%, far higher than the average among financial sector peer companies.Analyst Craig Kucera, of B. Riley, believes that CTO has plenty of options going forward to expand its portfolio through acquisition: “CTO hit the high end of anticipated disposition guidance at $33M in 4Q20, bringing YTD dispositions to nearly $85M, with the largest disposition affiliated with the exercise of a tenant's option to purchase a building from CTO in Aspen, CO. Post these dispositions, we estimate >$30M in cash and restricted cash for additional acquisitions, and we expect CTO to be active again in 1H21.”To this end, Kucera rates CTO a Buy along with a $67 price target. At current levels, his target implies a 60% one-year upside potential. (To watch Kucera’s track record, click here)Overall, CTO has 3 reviews on record from Wall Street’s analysts, and they all agree that this stock is a Buy, making the analyst consensus of Strong Buy unanimous. The shares are priced at $41.85, and their average price target of $59.33 suggests room for ~42% growth in the year ahead. (See CTO stock analysis on TipRanks)Holly Energy Partners (HEP)The energy sector, with its high cash flows, is also known for its high-paying dividend stocks. Holly Energy Partners is a midstream transportation player in sector, providing pipeline, terminal, and storage services for producers of crude oil and petroleum distillate products. Holly bases most of its operations in the Colorado-Utah and New Mexico-Texas-Oklahoma regions. In 2019, the last full year for which numbers are available, the company saw $533 million in total revenues.The company’s revenues in 2020 slipped in the first and second quarters, but rebounded in Q3, coming in at $127.7 million. Holly reported at distributable cash flow – from which dividends are paid – of $76.9 million, up more than $8 million year-over-year. This supported a 35-cent dividend payment per regular share, or $1.40 annualized. At that rate, the dividend yields a strong 10%.Noting the dividend, Well Fargo analyst Michael Blum wrote, “Our model suggests the distribution is sustainable at this level as [lost revenue] is offset by inflation escalators in HEP's pipeline contracts and contributions from the Cushing Connect JV project. About 80% of HEP's distribution is tax-deferred.”Blum gives HEP a $20 price target and an Overweight (i.e. Buy) rating. His target implies a 38% upside for the next 12 months. (To watch Blum’s track record, click here)"Our rating primarily reflects the partnership's steady, fee-based cash flows, robust yield and conservative balance sheet,” Blum added.For the most part, Wall Street agrees with Blum’s assessment on HEP, as shown by the Strong Buy analyst consensus rating. That rating is supported by 6 reviews, split 5 to 1 Buys versus Hold. The average price target, at $18.67, suggests that the stock has room to grow ~29% this year. (See HEP stock analysis on TipRanks)DHT Holdings (DHT)Midstreaming is only one part of the global oil industry’s transport network. Tankers are another, moving crude oil, petroleum products, and liquified natural gas around the world, in bulk. Bermuda-based DHT operates a fleet of 27 crude oil tankers, all rated VLCC (very large crude carrier). These vessels are 100% owned by the company, and range in tonnage from 298K to 320K. VLCCs are the workhorses of the global oil tanker network.After four quarters of sequential revenue gains, even through the ‘corona half’ of 1H20, DHT posted a sequential drop in revenues from 2Q20 to 3Q20. The top line that quarter fell from $245 million to $142 million. It’s important to note, however, that the 3Q revenue result was still up 36.5% year-over-year. EPS, at 32 cents, was a dramatic yoy turnaround from the 6-cent loss posted in 3Q19.DHT has a history of adjusting its dividend, when needed, to keep it in line with earnings. The company did that in Q3, and the 20-cent per regular share payment was the first dividend cut in 5 quarters. The general policy is a positive for dividend investors, however, as the company has not missed a dividend payment in 43 consecutive quarters – an admirable record. At 80 cents per share annualized, the dividend yields an impressive 14%.Kepler analyst Petter Haugen covers DHT, and he sees potential for increased returns in the company’s contract schedule. Haugen noted, “With 8 out of 16 vessels ending their TC contracts by end Q1 2021, we believe DHT is well positioned for when we expect freight rates to appreciate in H2 2021E.”Getting into more details, Haugen adds, “[The] main underlying drivers are still intact: fleet growth will be low (1% on average over 2020- 23E) and the US will still end up being a net seaborne exporter of crude oil, making further export growth from the US drive tanker demand. We expect spot rates to improve again during 2021E, shortly after oil demand has normalised. We expect average VLCC rates of USD41,000/day in 2022E and USD55,000/day in 2023E.”In line with his comments, Haugen rates DHT a Buy. His $7.40 target price suggests that this stock can grow 34% in the months ahead. (To watch Haugen’s track record, click here)The rest of the Street is getting onboard. 3 Buys and 1 Hold assigned in the last three months add up to a Strong Buy analyst consensus. In addition, the $6.13 average price target puts the potential upside at ~11%. (See DHT stock analysis on TipRanks)To find good ideas for dividend stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

  • Option Trader Bets $2M On Advanced Micro Devices Following CES Presentation

    Advanced Micro Devices, Inc. (NASDAQ: AMD) shares dipped 1.95% on Tuesday, but at least one larger option trader is betting the stock is headed much higher in the long-term.The AMD Trade: On Tuesday morning, Benzinga Pro subscribers received dozens of AMD option alerts, but two trades stood out as particularly large and bullish: * At 11:59 a.m., a trader bought 245 AMD call options with a $95 strike price expiring in June 2022 near the ask price at $24.75. The trade represented a $606,375 bullish bet. * One second later, a trader bought 514 AMD call options with a $95 strike price expiring in June 2022 near the ask price at $24.749. The trade represented a more than $1.27-million bullish bet.Related Link: Option Trader Bets .1M On Plug Power Following South Korea DealWhy It's Important: Even traders who stick exclusively to stocks often monitor option market activity closely for unusually large trades. Given the relative complexity of the options market, large options traders are typically considered to be more sophisticated than the average stock trader.Many of these large options traders are wealthy individuals or institutions who may have unique information or theses related to the underlying stock.Unfortunately, stock traders often use the options market to hedge against their larger stock positions, and there's no surefire way to determine if an options trade is a standalone position or a hedge. In this case, given the relatively large size of Tuesday's largest AMD option trades, they could certainly be institutional hedging.AMD Fires Another Shot: The huge call option purchases come the same day AMD revealed its brand new Ryzen 5000 mobile processors at CES 2021. The new processors are based on the same Zen 3 architecture as the Ryzen 5000 CPUs for desktops that were a huge home run among critics and investors in late 2020.The new mobile processors are AMD's latest shot at stealing laptop market share from Intel Corporation (NASDAQ: INTC).In early January, AMD surpassed Intel in desktop CPU market share for the first time in 15 years, according to PassMark Software's PerformanceTest. AMD has also been gaining market share from Intel in the massive server market as well.Benzinga's Take: The back-to-back call purchases almost certainly came from the same trader and represent a combined bullish bet of nearly $2 million. The market wasn't blown away by AMD's CES presentation on Tuesday given that the stock traded lower on the day, but the call buyer appears to be focusing on the long-term prospects for AMD.The calls have a break-even price of $119.75, suggesting at least 26% upside for AMD over roughly the next year-and-a-half.Photo courtesy of AMD. See more from Benzinga * Click here for options trades from Benzinga * 10 Best Performing S&P 500 Stocks Of 2020(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Here's What it Took to Help My Millennial Colleague Plan Her Million-Dollar Nest Egg

    I'm a nosy person, so I elbowed my millennial colleague, Jessa, in the next cube over, and asked her, "Pssst... How much do you save for retirement per year?"Instead of ignoring me, she furtively Slacked me all of her financial details (it was like a giant ice cream sundae for a finance nerd): * Jessa, at 28, still owes $15,000 in student loans, and her husband, who is 30, still owes $20,000. * They owe $12,000 on their car loans. * Jessa and her husband have a $200,000 mortgage. * She currently saves $0 toward her retirement plan. (Sorry, but that's not enough, friend.) * She and her husband need help from Facet Wealth -- a virtual full-service financial planning service with dedicated certified financial planners.According to a survey by Bank of America, a surprising 16% of millennials between the ages of 24 and 38 now have at least $100,000 saved for retirement.Whooo hooo! That's cause for celebration. But what about Jessa? What does she need to do to get out of debt and save enough for retirement?Why Millennials Struggle to Save for Retirement Why do millennials like Jessa struggle to save for retirement? 1. Housing costs: The No. 1 response (37%) for millennials is the cost of housing, according to the Retirement Pulse Survey. 2. Supporting family members financially: Millennials often support extended family members with their income. This doesn't even involve the amount you need to save to put kids through college -- remember, financial aid doesn't cover everything. 3. Not enough income: The State of Our Money shares that more than half of millennials (55%) don't have a retirement savings account, such as a 401(k) or IRA. About 46% said unemployment was to blame. 4. Student loan debt: As of September 2017, the average graduate from the class of 2016 owed more than $37,000 in student loan debt, according to Student Loan Hero. "Yep, yep and yep," she said, when I showed her these numbers. "We hit three of these four categories. I just can't afford to put money in my retirement account right now."What My Millennial Colleague Needs to Do -- and Here's What You Can Do, Too! Feel like the percentages stack against you? Here's what to do next.Tip 1: Analyze interest rates. As soon as I said the words "interest rate," Jessa flopped over in her desk chair and pretended to fall asleep.I knew Jessa and her husband refinanced their home this past fall, and I asked her about their interest rates. She was paying only 3% on their home and student loans. I suggested asking Facet Wealth if they should invest in retirement more aggressively than pay down debt on their loans. (It's what I would vote for!) On the flip side, if you have high interest rates on your own student loans, I'd suggest asking Facet Wealth about paying off debt if your loans carry a higher rate than your investments earn before taxes. Tip 2: Consolidate those student loans -- but there's a catch. Consider consolidating student loan payments only if you can lower your payment without stretching out your loan term. In Jessa's case, she could use the extra money to start compounding her retirement savings.Tip 3: Get cracking on that retirement plan. Jessa must save at least 10% of her income. It's the rule of thumb cited by most financial advisors and other money experts. If Jessa doesn't want to struggle to keep her head above water after retirement, she needs to invest 10% of her income each year. And none of this "invest just enough to get the employer match" crap. In most cases, that's not enough retirement savings for most people and it won't scratch the surface toward creating a hefty nest egg. Tip 4: To get really rich, invest at least 15%. If Jessa wants to get really rich as a passive investor, she'll invest at least 15% of her income. She won't get Warren Buffett rich, of course, but if she wants at least $1 million in liquid assets beyond her home value, she'll shoot for saving 15%.That goes for anyone who invests for retirement. Tip 5: Never, ever borrow from your retirement plan. You can lend yourself money from your retirement account, but it's not a good idea. Jessa's retirement plan is off limits, and so is yours. Assume that money is in lockdown. Period.Why? * You lose compounded growth on your earnings. * You repay the loan with after-tax money, which means the interest you pay will get taxed again when you withdraw it at retirement (unless you borrow from a Roth 401(k). * If you leave your job, you'll have to repay the loan, typically within 60 days of leaving. If you can't, you'll owe taxes on the balance and a 10% penalty as well if you're under 55.You don't want to mess with all that.Tip 5: Take time to review what options are best for you. Once you've got retirement savings under control, you may want to take a look at other potential opportunities. Maybe Jessa and her husband want to dive into real estate investing or get cracking on several side hustles. Whatever it is, she needs to make sure it's worth her time and energy and can contribute toward her long-term goals.Tip 6: Do your own research. Jessa is a proud graduate of a liberal arts college, which means she's a lifelong learner. Here's another thing she'll do to maximize her success: She'll read everything she can get her hands on. She'll research funds and options within her 401(k), read investing books, books about real estate, articles about destroying debt and more. She'll absorb blog posts, listen to podcasts and develop her own investing philosophy. She'll be her own advocate when it comes to her own needs, risk tolerance and more, and you can, too.How Much Retirement Money Should You Aim to Save? Jessa is 28, but millennials span a wide range of ages -- from 24 to 38. Check out the rules of thumb for savings at each age.Savings Goal for Your 20s Accumulate 25% of your overall gross pay during your twenties. You might need to lower this amount if you've amassed a giant amount of student loan debt. Savings Goal for Your 30s Have at least one year of salary saved by the time you turn 30. If Jessa makes $100,000, she should have $100,000 saved. Savings Goal for Ages 35 to 40 Those of you on the mid-thirties end of the millennial spectrum should have double your annual salary saved. You should have four times your yearly salary saved if you're 40. Steps to Get There If she's serious about getting out of debt and saving enough for retirement, Jessa must do these three things.Step 1: Get started. This article won't help -- if she (or you) do nothing about it. You must take action if you truly want to save enough and get out of debt. It takes time and discipline and not even very much money per month (depending on your age).Step 2: Invest aggressively, automatically. Two facts: * If you start at 24, you can have $1 million at age 69. All you need to do is save $35 per month -- and get a 10% return on your investments. Save more, and you'll become a millionaire more quickly. * If you start at 40, you can save $1 million by saving $561 per month, assuming a 10% return. I informed Jessa that since she has $0 saved for retirement at this point, she can start saving at least $158.15 per month for 40 years with a 10% return and still be able to become a millionaire.$158.15 -- that's the cost of a pair of new shoes each month, I informed her. Get Facet Wealth on Your Side Nobody ever says, "Be your own doctor." Why would you assume, then, that you should be your own financial advisor (unless you're a financial analyst or advisor)?You need Facet Wealth, which can help you achieve a more prosperous life by helping you work with a dedicated CFP® Professional at an affordable price.Jessa informed me that she'd signed up for our company retirement plan and also made a plan for getting out of debt the very next day.I bought her a cupcake and set it on her desk. It was cause for celebration.See more from Benzinga * Click here for options trades from Benzinga * 8 Must-Know Tips for Getting a Background Check on Your Work-from-Home Employee * 2021 Crypto Preview: Here's What's Coming Next(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • The 4 Best 5G Penny Stocks Right Now

    List of 4 Top 5G Penny Stocks for Your Watch ListDespite the pandemic, civil unrest, and an assortment of issues and hurdles that have plagued us throughout the past year one thing is for certain, the race to 5G dominance has not slowed down. Many public companies of all sizes are entering this technology-driven telecommunications race with potentially the most reward being found in penny stocks.What is 5G & Which Penny Stocks Should You Focus on Now? 5G or "fifth generation" technology is a telecommunications standard for broadband cellular networks. This is the logical successor to the previous standard 4G or "fourth generation. All devices on a 5G network are connected to the internet and phone networks by radio waves via an antenna system. 5G includes higher rates of speed, increased bandwidth, and generally wider accessibility benefiting higher traffic areas. While there have been concerns over the physical impact of 5G by some groups, the market is focusing more on the positives of this new tech, which has begun rolling out on a larger scale.When it comes to 5G stocks, you have your clear stock market juggernauts like Verizon (NYSE: VZ), Qualcomm (NASDAQ: QCOM), and even American Tower Corp. (NYSE: AMT). But what about penny stocks & for reference, we're talking about listed penny stocks and not OTC penny stocks.High volatility trading and the potential of "getting in early" are two of the main attractions of penny stocks or as its defined by the Securities and Exchange Commission (SEC) stocks that trade for under $5 per share. While there is plenty of risk in choosing lower-priced stocks, the potential rewards may be much greater compared to stocks that higher-priced with a larger market cap.Here is a list of 5G Penny Stocks that are Trending, Right Now5G Penny Stocks to Watch 1. Globalstar Inc. (NYSEAMERICAN:GSAT) 2. UTStarcom Holdings (NASDAQ: UTSI) 3. Borqs Technologies Inc. (NASDAQ: BRQS) 4. Veon Ltd. (NASDAQ: VEON)Globalstar Inc. (NYSE: GSAT)Last week Globalstar (NYSE: GSAT) was the center of attention for those looking for 5G penny stocks. The company and business partner Nokia (NYSE: NOK) entered into an agreement with Tideworks Technology to deploy Globalstar's Band 53 spectrum at the Port of Seattle, Terminal 5. This was the second collaboration between Globalstar and Nokia at a U.S. port.While most of 2020 was relatively quiet aside from a few select days last summer, recent weeks have seen a much more consistent uptick in Globalstar's stock, then we see the obvious jump last week. In addition to the latest deal with Nokia, Globalstar has gained more attention following November's (2020) financial results and business update. Aside from its clear focus on 5G, the stock market should also note the company's reach in other areas of technology and telecommunications services. Dave Kagan, Chief Executive Officer of Globalstar, explained several notable initiatives that the company has in place."Our relationship with Fiat Chrysler and the Jeep brand continues to expand on multiple fronts, with the launch of our Spot Gen 4 Jeep edition, the addition of South America as a licensed territory, and promotional opportunities with other Jeep brand partners. The connected car market is a large and growing opportunity for the Company, and we are looking to add additional partners beyond FCA and Jeep," Kagan said in Globalstar's Q3 business update.UTStarcom Holdings (NASDAQ: UTSI)Another one of the 5G penny stocks to watch is UTStarcom (NASDAQ: UTSI). On January 11, UTStarcom announced the expansion of a cooperation with a mobile operator in Europe. The company will supply an advanced networking platform in support of the operator's 5G deployment requirements.UTStarcom also released its NetRing® TN704E metro access platform. This is the newest piece of the company's SDN-enabled packet optical transport network product portfolio. This platform will be one of the main components of the mobile backhaul network expansion project with this mobile operator, in Europe.Over the last few months, UTStarcom has been reaching new 5G milestones, which has contributed to the stock's huge 80% rise in price per share since November of 2020. The company's progress in the development of its 5G optimized disaggregated router platform in addition to new agreements with major mobile network operators have added to UTStarcom's positive market momentum.Borqs Technologies Inc. (NASDAQ: BRQS)Recently we discussed Borqs Technologies Inc. (NASDAQ: BRQS) among other tech penny stocks to watch. This came as the (NASDAQ: BRQS)'s stock price saw its first meaningful move in over a month. Shares jumped from $1.07 to highs of $1.34 during Friday's (January 8) trading session. The move came as Borqs seemingly benefited from a broader move in the overall tech sector. One of the things that have helped boost interest in the company in addition to the overall excitement for 5G penny stocks is what was announced in December of 2020.The company signed an official agreement for a 5G industrial park project in China. Borqs reported that it signed with the Board Committee of Huzhou South Taihu New Area for the project. A joint venture will be set up in the area that will serve as Borqs' China headquarters for 5G projects. This would add to the company's growing list of infrastructure projects signed in the 3rd quarter. Borqs and SkyCentrics previously announced plans for a joint venture for manufacturing and delivering CTA-2045 technology-based products. These are for utility-scale automated smart controls.Veon Ltd. (NASDAQ: VEON)One of the 5G penny stocks that have also jumped in share price during November (2020) and December (2020) is Veon Ltd. (NASDAQ: VEON). Shares have rose from $1.23 at the start of November (2020) to highs last week on January 7 of $1.75. This 40%+ move was also accompanied by several key updates, many included raising large amounts of capital for investments into its subsidiaries.Veon provides more than 210 million customers with voice, fixed broadband, data, and digital services. Its operations span 10 countries including Russia, Pakistan, Algeria, Uzbekistan, Ukraine, Bangladesh, Kazakhstan, Kyrgyzstan, Armenia, and Georgia. One of the larger developments over the last few months included details on Veon's Russian unit, VimpelCom. It withdrew its wireless networks from Huawei and Nokia management to handle communications quality itself. Prior to this, the company had outsourced its management and network development to these two companies in 2017.Neither the author of this post nor Pennystocks.com have a position or financial relationship with any of the stocks mentioned above.See more from Benzinga * Click here for options trades from Benzinga * Mid-Afternoon Market Update: Dow Falls 100 Points; GeoVax Labs Shares Spike Higher * Gold Flora Teams Up With Stately Brands To Boost California Operation(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.