CHTR dominated by bulls lifting the market higher throughout the day


Charter Communications (CHTR) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
CHTR rallies 3.72% closing $10.59 higher
CHTR finds buyers around 283.68 for the third day in a row
CHTR dominated by bulls lifting the market higher throughout the day
CHTR finds support at 50-day moving average
CHTR ends the day on a bullish note closing near the high of the day
TQ Sentiment
Report Sentiment: 75% Bullish
Technical Forecast:
Overview

CHTR ended Thursday at 295.61 surging $10.59 (3.72%). This is the biggest single day gain in over three months. Today's closing price of 295.61 marks the highest close since April 26th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 295.58, Charter Communications confirms its breakout through the prior session's high having traded $1.66 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for CHTR
Volatility

Thursday's trading range was $13.56 (4.76%), that's far above last trading month's daily average range of $7.34. Weekly volatility is also higher, being above the markets average with the monthly volatility being slightly above average.

Support/Resistance

Prices are trading close to the key resistance level at 298.67. The share found buyers again today around 283.68 for the third trading day in a row after having found demand at 283.22 in the previous session and at 283.10 two days ago. After trading as low as 283.68 during the day, the market found support at the 50-day moving average at 284.44.

Trend

Though the stock is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory.

Conclusion

While classical technical analysis indicates a bullish sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for Charter Communications
Condition Forecast Direction Win Avg Worst Best Events
White Candle TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Price broke through Technical Resistance R1 TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Up Close near high of period TQ Pro Members Only
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