Charting a Course for CHTR (Charter Communications)

Daily Time Frame Analysis

The daily chart of CHTR reveals several bullish indicators:

1. RSI Breakout: The Relative Strength Index (RSI) has broken out, indicating increasing momentum.

2. Inverse Head and Shoulders Pattern: This classic bullish reversal pattern suggests a potential uptrend.

3. Gap to Fill: A gap exists at the $371.19 level, which often acts as a magnet for price.

4. AVWAP and Fibonacci Alignment: The Anchored Volume Weighted Average Price (AVWAP) aligns closely with the 38.2% Fibonacci retracement level, a strong resistance area needed to clear.

Weekly Time Frame Analysis: False Moves Lead to Fast Moves

On the weekly chart, we observe a historical pattern where liquidity sweeps around the $262 level have led to sharp rallies. This phenomenon, where false moves lead to fast moves, is a critical insight for understanding potential future price action. The recent price action near this level suggests a similar outcome may be brewing.

Detailed Weekly Time Frame Analysis

A more detailed look at the weekly chart shows:

1. MACD Crossover: The Moving Average Convergence Divergence (MACD) has crossed over, indicating a bullish momentum shift.

2. Key Zone: The $296-$306 zone has been tested as both support and resistance, marking it as a significant area to watch. Breaking this is the 1st step of many.

3. Multi-Year Downtrend Line: A yellow downtrend line shows a long-term bearish trend that CHTR needs to break for a sustained rally.

4. Potential Bottom: A potential bottoming pattern is forming, marked in green.

5. RSI Downtrend Breakout: A key RSI downtrend line breakout would further confirm bullish momentum.

Conclusion

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