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Altice USA, Inc. (NYSE: ATUS) is a holding company. The Company is engaged in providing broadband communications and video services and markets its services primarily under the Optimum brand. The Company delivers broadband, video, and telephony services to residential and business customers. It offers news programming and advertising services, and a full-service mobile offering to consumers across its footprint.
As per the previous recommendation on ATUS as on June 12, 2023, a ‘Speculative Buy’ recommendation was given on the stock at USD 2.86, and noted below are the details of support and resistance provided in our previous report:
Recommendation Summary as on June 12, 2023
ATUS’s Daily Chart
Considering the stock crossing the first resistance, current trading levels and risks associated, it is prudent to book profit at the current levels. Hence, a 'Sell' rating is given on the stock at the current market price of USD 3.25, as of July 06, 2023, at 06:45 am PDT.
Note: This report may be updated with details around fundamental and technical analysis, price chart in due course, as appropriate.
Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical issues prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.
Note 1: Past performance is neither an Indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 06 July 2023. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual’s appetite for upside potential, risks, holding duration, and any previous holdings. An ‘Exit’ from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.
Technical Indicators Defined: -
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.
Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.
Kalkine Equities LLC provides general information about companies and their securities. The information contained in the reports, including any recommendations regarding the value of or transactions in any securities, does not take into account any of your investment objectives, financial situation or needs. Kalkine Equities LLC is not registered as an investment adviser in the U.S. with either the federal or state government. Before you make a decision about whether to invest in any securities, you should take into account your own objectives, financial situation and needs and seek independent financial advice. All information in our reports represents our views as at the date of publication and may change without notice.
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