ISIN: US16119P1084

Charter Communications is one of the largest cable operators in the USA, and supplies its customers with digital and interactive television as well as services related to video on demand, internet and telephone. In the year 2016, it took over its rival Time Warner Cable. The company was founded in 1993 and has its headquarters in Stamford, Connecticut.

In the following analysis, we will examine the stock of the company from a technical point of view.

Review

The long-term upward trend began to falter in August/September of this year around the 400 USD mark. Since then, a downward trend has formed in the stock and the SMA 200 has been exited from below. Currently, the value is in the correction of the last downward movement, and it is looking probable that it will test the SMA 200.

 

stock CHTR daily chart with profit targets

 

Outlook

In order to find an entry, one should wait for the formation of a clear signal in the subordinate trend size (blue arrows in the hourly chart). The entry can take place either at the point 2 or, with the advantage of a smaller stop, subsequently from out of the correction, with a stop loss on the point 3, which will have formed by then.

For target zones, we can take the areas around 313 USD and 244 USD (green zones). If the value rises clearly and sustainably above 375 USD (red line), one should abandon the short scenario.

 

CHTR hourly chart with outlook

 

Disclosure of possible conflicts of interest: at the time of publishing this analysis, the author is not invested in the securities or underlyings discussed.

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