Buy medium term with CHTRMy strategy is to combine several techniques at once:
+ Price channel and trend line: help me identify the direction of the price,
+ Supply - demand: help me identify the reversal position,
+ Elliott wave: help me determine the cycle of price,
+ Candlestick pattern and price action: Help me correct the position to the order.
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4CHTR trade ideas
CHTR - DAILY CHARTHi, today we are going to talk about the Charter Communications Inc and its current landscape.
Charter Communications Inc enters in the spotlight of the market as T- Mobile has announced that John Legere will leave the seat of CEO of the company, been replaced by Mike Sievert in April 2020. The former CEO that has been leading the company since 2012 will remain a member of the board. Its replacement Mike Sievert is the current president and chief operating officer (COO). The transaction period seems set to be smooth as Legere will assist with the acquisition process of its rival company Sprint, that it's controlled by Softbank that also holds control of WeWork, where Legere its quoted to be the new CEO. The acquisition of Sprint (an $26 billion deal) makes the T-Mobile step up its potential of competition in the Telecommunications Sector, possibly imposing a reducing of market share for Charter Communications Inc.
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Indicators signal bullish move in Charter Communications. RSI | MACD | Histogram all bullish and stochastic has reset for next move higher.
Awaiting breakout above $427
Entry level $430
Price target $479
Stop loss $420
KeyBanc upgrades Charter Communications (NASDAQ:CHTR) from Sector Weight to Overweight with a $515 target.
The firm cites CHTR's "ample opportunity" to increase its broadband penetration.
KeyBanc notes that Charter has "significant" FCF generation that can go towards repurchases, sees upsides in the recent price increases, and thinks the mobile expansion should drag less on profitability next year.
Charter shares are up 0.4% pre-market to $418.27. The company has an Outperform average
Source seeking alpha
CHTR approaching support, potential bounce! CHTR is approaching our first support at 271.73 (horizontal swing low support, 61.8% Fibonacci extension, 76.4% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 304.11 (horizontal overlap resistance, 50% Fiboancci retracement).
Stochastic (89,5,3) is also approaching support where we might see a corresponding bounce in price.