Charter Communications $CHTR Triangle Breakdown Target Hit, Dark Pool Selling

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Charter Communications $CHTR hit its Triangle (grey lines on chart below) breakdown predicted target zone (red shaded area on chart below) on December 14, 2022. The stock is in a technical strong downtrend, with the MACD and money flow giving a sell signal.

Charter Communications stock chart on December 14 2022 hitting its Triangle breakdown target with a negative MACD and money flow
Charter Communications stock chart on December 14 2022 hitting its Triangle breakdown target with a negative MACD and money flow

Dark Pool Selling In Charter $CHTR Stock

A dark pool trade occurred in Charter Communications $CHTR stock on December 5, 2022. The dark pool order was valued at $95 million. We think the dark pool trade was a sell order because $CHTR stock fell following the print hitting the tape.

Charter Communications stock chart on December 14 2022 with a dark pool trade shown with an orange bar
Charter Communications stock chart on December 14 2022 with a dark pool trade shown with an orange bar

Make sure to review this lesson on dark pool trading so that you understand the chart above.

A narrative emerges that one of the larger institutional investors like Vanguard, Capital International, or Blackrock, had inside information on what the company was spending to upgrade its broadband service and so they sold some of their position a week ago before the news was made public.

Charter sinks after detailing spending plans to update network

Charter Communications stated on December 13, 2022, in its investor meeting slide presentation, that its goal was to invest $5.5 billion in capital expenditures for a network evolution footprint. Efficiency gains in capital expenditure and operating expense as a result of network evolution will partially offset the $5.5 billion. The company intends to upgrade all of its 750/860 MHz to 1.2 GHz plant capacity, as well as the majority of its footprint, to 1.8 GHz DOCSIS 4.0 capable equipment. By the end of 2025, Charter expects the network evolution to be essentially finished. The company currently anticipates that total capital expenditures for the year 2023, excluding line extensions, will range between $6.5 and $6.8 billion. As a result of network evolution, Charter currently anticipates that capital expenditures, excluding line extensions, will peak in either 2024 or 2025 and then begin to decline. On December 14, 2022, the stock fell because the cost was much higher than analysts had previously predicted.

Charter Communications stock dives after reports of increasing capital spending

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