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DailyPlay – Charter Communications (CHTR) – November 9th, 2021

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The bearish DailyPlay for Tuesday, November 9th is Charter Communications (CHTR). CHTR is part of the communications sector which is currently the weakest sector in the S&P 500. 

Technical View

  • Strong bearish trend. Price broke below and retested $700 resistance providing a good bearish entry.
  • Weak Technical Score (3 out of 10).
  • Bearish 1M and 6M trends.

Fundamental View

  • Lower broadband usage and 15% decrease in advertising revenue (vs -8.9% expected)
  • Slowing EPS and revenue growth
  • Earnings Jan 28 (80 days)

As this is a credit spread, look to take profits at 50% gain and cut losses at 100%:

  • Take Profits: $6.10 Debit
  • Stop Loss: $24.40 Debit

View CHTR Trade

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Tony Zhang