Hello folks !
For once, here is a stock share price analysis: Altice [ATC.AS]
Small background check
Altice is large international group mainly invested in Telecom sector (they bought SFR). At its head you'll find billionnaire Patrick Drahi. Sometimes considered as a 'cowboy investor' for his extensive use of LBO (Leveraged by out) technics to purchase competitors, suppliers, etc.
Last Friday announced 'bad' numbers for it's SFR filliale making it's share price drop like never before: -22,6%...
But like always we don't really care about any of that only price is our indicator:
Price chart
From an historic highest high around 35$ in mid-2015 price quickly dropped till 10 bucks. A classic proper downtrend.
Price went into 1,5 year of trading range before forming a 'M' pattern this summer and start resetting itself.
Full price reset should happen at 10$ or so before starting a new uptrend that should go to at least 25$ !
Plan & Strategy
As always plan the trade and trade the plan, this one is pretty straight forward:
- Monitor price till its reset is completed
- I plan on an close to 2$ SL from right below 10$.
- That would give us a trade like: Entry ± 10; SL ±8; TP: ±25 so you'll get a 15:2 Reward:Risk ratio pretty sweet ain't it ?
Don't hesitate to join us, ask questions in comment section, etc
Much love
Cédric
Tatch Capital Limited
[TCN]: Tatch Convertible Note (aka TatchCoin)
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