👻 TRADING ANALYSIS: [ATC.AS] A very nice long term trade in the making - Altice Group from billionaire entrepreneur Patrick Drahi

in #trading7 years ago

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

Capture d’écran 2017-11-05 à 18.22.33.png
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

https://TatchCapital.Com

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