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

View CHTR Trade

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