Charter Communications ends cautiously higher - Analysis - 08-06-2023

Charter Communications' stock (CHTR) rose in the intraday levels, amid positive signals from the RSI, even though it reached overbought levels, with the stock climbing 2.34% in the last session, or 7.71 points, and settling at 336.71, amid the dominance of the main downward trend in the medium and short terms, with negative pressure from the 50-day SMA.

Therefore we expect the stock to return lower, targeting the pivotal support of 297.66, provided the initial resistance of 322.88 was breached. 

Expected trend for today: Bullish