Charts Tell All So See Why I Am Shorting CHTR Here
Jenny Rebekka | Jan 04, 2017 10:08PM ET
Mining for gold is what I do when I study stock charts. I look through 50 on the hope I hit one golden stock chart ready to make me thousands. I just discovered Charter Communications, Inc. (NASDAQ:CHTR). The stock chart is primed for a fall based on two different trend lines discovered, each converging on the current price. This signals a high priority short on Charter Communications at its current price of $291.55. On the first daily stock chart below, you can see a trend line that begins as support, allowing the stock to float higher. In October, Charter breaks below the trend line and continues to grind up. This is weaker climb, as the stock can no longer get above the up-sloping trend line. This is the beginning of the end. The next chart below shows the top of a pivot high from 2015, connected to a high from September 2016. This trend line continues to hit the current price on Charter Communications. Both of these lines signal that now is the time to short. I am planning on doing just that. Note the 2 charts below of the daily and weekly time frames...
Daily Stock Chart...
Weekly Stock Chart...
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