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mid-cap

Book Profit on NYSE - Listed Telecommunication Stock: Altice USA Inc.

Aug 08, 2022 | Team Kalkine
Book Profit on NYSE - Listed Telecommunication Stock: Altice USA Inc.

 

Altice USA Inc.

Company Overview Altice USA, Inc. (NYSE: ATUS) is a holding company. The Company through Altice Europe is engaged in providing broadband communications and video services in the United States. The Company operates its services through two brands: Optimum, which is in the New York metropolitan area, and Suddenlink, principally in markets in the south-central United States.

As per our previous ‘Report published on ATUS on 15th July 2022, Kalkine provided a ‘Buy’ stance on the stock at USD 8.35 based on ‘wide geographic presence, high margins, and upside indicated based on Valuation done, and the stock price has now moved by ~42.99% since then and the price is now moved above the Resistance 1 level and even crossed its resistance R2.

Noted below are the details of support and resistance levels provided in our previous report:

ATUS’s Daily Chart

(Source: Refinitiv, Analysis done by Kalkine Group)

Considering the resistance, target level attainment, current trading levels, risks associated, and volatile market condition on the back of rising interest rates, a ‘Sell’ rating is assigned to the “ATUS” at the current market price of USD 11.94 (as of 08 August 2022 at 10:05 AM PDT). 

Note: This report may be updated with details around fundamental and technical analysis, price/ chart in due course, as appropriate 

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 21 July 2022. 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.

Note 4: Target Price refers to a price level which the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ), and or REFINITIV. Typically, all sources (NYSE, NASDAQ, or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’