Exponentialmovingaverage
ETHUSD | Entry On Pull Back To The Mean | EMA | Pin BarEntry comes after the pin bar form on rectangle resistance turned support at price level 2133.07. Resistance level turned support has four or more touches. Closing price of pin bar is near the price value of exponential moving averages. EMA s are pointing up which indicates an up trend.
Exponential Moving Average Period 10: 2119.21
Exponential Moving Average Period 20: 2096.45
Closing Price of Pin Bar: 2133.08
Trend: Up Trend
Level: Horizontal Support Resistance, Exponential Moving Average Period 10, Exponential Moving Average Period 20, Dynamic Support Resistance
Signal: Pin Bar
Pattern: Rectangle
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Price and Time of Candle
Charter Communications will eventually be a good buy opportunityCharter Communications is a pillar of the telecommunications industry and is seeing prices decline right now (April 6, 2021) but will eventually be a great buy opportunity.
Weaknesses
Endless debate between the "oh my god cord-cutters!" vs. the "cord-cutters need broadband internet!" crowds on social media
Doesn't pay a dividend so they fail my "ok boomer" test
Looming threat of 5G revolutionizing connectivity
$174M "scandal" in 2018 post Time Warner Cable acquisition to settle fraud claims
Insider selling in the last two quarters (EVP David Ellen unloading 35,000+ shares) but no insider buying**
Strengths
Revenue increasing yearly from 2018 to 2020*
67% of shares owned by institutional investors (including Vanguard, BlackRock, and State Street) and 29% of shares owned by insiders**
Makes up about 4.7% of the XLC***
TipRanks
15 Analysts covering Charter Communications in the last 6 months
Median price target is $725, about 20% higher than the close on April 6, 2021
Chart
Price fell beneath the 200-Day SMA on April 5, 2021
RSI is dropping and was <40 on April 5, 2021
MACD is increasing in the negative direction
Summary
Charter Communication's price drop is only making them more appealing to small-timers like me, and I will be watching this decline with great interest. The median price target of $725 from TipRanks means more and more upside as the price drops, since I do not believe that broadband internet via cable will be immediately and instantly supplanted by 5G technology. Charter Communication's latest close was below their 200-Day SMA of $612.47, which has almost certainly put them on institutional watchlists worldwide. Passive index fund giants Vanguard, BlackRock, and State Street already own 25+ million shares and though they collectively sold about 1M shares in Q4 2020**, this price decrease may signal significant buys as part of their rebalancing effort.
*Sourced from 2020 10-K filing for Charter Communications
**Sourced from WhaleWisdom
***Sourced from etf com summary of XLC