Charter Communications may rise to 446.00 - 466.00

Our pivot point stands at 347.

Our preference

The upside prevails as long as 347 is support.

Alternative scenario

Below 347, expect 314 and 294.

Comment

The RSI is above 70. It could mean either that the stock is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 320.667 and 296.5604). Finally, Charter Communications has crossed above its upper daily Bollinger band (373.68).

Supports and resistances

487 **

466 *

446 **

426

383.07 (USD-last)

360

347 **

314 *

294 **

Number of asterisks represents the strength of support and resistance levels.