Hey everyone! Here's hoping your trading has been going well recently.
Today, we're taking a look at Charter Communications, NASDAQ:CHTR which has to hold the title for one of the most beaten down stocks over the last couple years. Dropping from all-time highs near $800 per share, a recent downswing in FCF has caused shares to plummet, and increased questions...
NASDAQ:CHTR
Charter Communications (CHTR) - Trade Plan Update
Trade Setup: Anchored VWAP (AVWAP) Rebound
Rationale:
The initial earnings release day was marked by a distinctly bearish sentiment, with CHTR closing below two critical support levels: the psychological threshold of $375 and the established support at $374.42. Observing the stock's performance...
NASDAQ:CHTR has seen an incredible pop here and if there's any hopes for the market to continue higher I think we could see this move incredibly strong to the upside. If the market pulls back it may be worth DCA'ing as the momentum is incredible right now..Good luck traders!
I am a technical trader so I will stick to the technicals for the most part on this one...
Technically, Charter's charts and price structure are pretty clean and straightforward.
We are at a decision point with good probability for movement in either direction.
With that said i would use the low as my stop loss if I am long and if i am a bear I would use the...
A nice expanding triangle is evident on this chart if support is found at the 333 level.
This triangle is just the inverse of a symmetrical triangle.
Will there be continuation of this pattern? Lets see.
This is a top short target. Keep this name on your watchlist as its been lagging the communications sector.
If the communication sector sees weakness which we think it will, this name will be a relative weakness trade to the downside.
Earnings approaching is the major outlier event.
The PEAD projected a neutral outlook for $CHTR after a negative under reaction following its earnings release placing the stock in drift D with an expected accuracy of 60%.
Charter Communications Inc Long confirmation ... As we see there was consolidation (130 M Total volume) Buyers were liquidated on $300 level, now it's time to kill sellers ! Market Makers are really cool at what they do ...
the current formation is a potential Broadening, with 5 rallies, but I find a Broadening bottom strange in a current economic situation and in the bottoms are rare and not even big enough to reverse such a trend
in my opinion it is more likely that at least one more rally will occur and become an inverted triangle of bearish continuation
Some ideas that supports a 10% (more less) of recovering price in the next weeks
Double bottom
Support on EMA100(w)
Multitime frame analysis with stochastic rsi
Tobin's Q 0.92
PE Ratio 28.94
and CMF positive divergence
If it goes over +690 then could go up to 740 or 777 later.
This is not an investment advice
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Fundamental Indicators:
Sector – Communication Services
US Business Cycle Stage – late cycle, when this sector is neutral
Revenue – consistently growing for the past 5 years, with 13% average annual rate
Profits – even more explosive growth, with 26% average annual rate
Net margin – decent...
The PEAD projected a Bullish outlook for $CHTR after a Negative Under reaction following its earnings release placing the stock in drift D with an expected accuracy of 75%.
The price action to the upper range of the linear regression channel pattern increases the likelihood of a mean reversion trade.
A price action below 488.00 supports a bearish trend direction.
Crossing above this level will negate the bearish trend.
Consolidation range from 463.50 to 480.00.
Crossing below 463.50 might target 447.00.
Crossing above 480.00 might be...
