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Downtrend ResistanceArchive
- 7/19/2024 -
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Charter Communications (CHTR) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a fifth consecutive positive week for the Charter Communications (CHTR). During the week, the CHTR gained 9.27 points, or 2.98%, and closed at 320.31 on Friday, July 19, 2024. Weekly volume was 14% above average.
CHTR is a member of Communication Services Sector. Communication Services is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See CHTR long-term trend chart]
A long-term downtrend had started on October 16, 2023 at 458.30 and reached 236.08 on April 26, 2024. CHTR lost 222.22 points, or 48.49%, in 27 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Medium-term trend: [See CHTR medium-term trend chart]
A medium-term uptrend had started on April 26, 2024 at 236.08 and reached 335.60 on July 18, 2024. CHTR gained -99.52 points, or -42.16%, in 11 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (296.43) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See CHTR weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since May 17, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.
 Short-term trend: [See CHTR short-term trend chart]
A short-term uptrend had started on July 8, 2024 at 286.66 and reached 335.60 on July 18, 2024. CHTR gained -48.94 points, or -17.07%, in 10 days. The price is now at the 31.24% retracement level.
 Daily Technical Indicators: [See CHTR daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic.
The daily MACD line is above its signal line since July 10, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.
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