Charter Communications is broadcasting a move higher

• Posted by Greg Harmon
• on September 17th, 2015

The cable industry has been in turmoil for a couple of months. Analysts calling for the rise of content as king, and more cable cutting as viewers shift to mobile and internet devices for viewing.

But rather than the stock price falling on this view they have been rising. Just yesterday Cablevision which was also ready to move ($CVC) was acquired at a hefty premium to its share price by Altice. And Charter Communications ($CHTR) looks like it may be the next one.

The chart above shows the price action in the stock since October last year. It has been moving higher against rising support. With the August pullback, it touched support again and then jumped back higher. Now the price is closing in on the top of a triangle pattern and heading up.

The RSI is bullish and rising with the MACD going higher too. The Bollinger Bands® opening make for a trifecta of support for more upside. A break of the triangle targets a move to 240. Don’t blame me if this gets taken out tonight before you gets a chance to see it trigger.

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Contacts me at greg@dragonflycap.com and use the code TRIBETOWN in the message to get either an annual subscription for $556 (10% off) an annual subscription plus my book signed for $600.

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