Could Altice USA, Inc. (ATUS) Recover After Forming a Descending Triangle?

April 20, 2018 - By Ellis Scott

The stock of Altice USA, Inc. (ATUS) formed a descending triangle with $20.72 target or 6.00 % above today’s $19.55 share price. The 7 months triangle pattern indicates low risk for the $14.41 billion company. If the $20.72 price target is reached, the company will be worth $864.60M more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

The stock decreased 1.76% or $0.35 during the last trading session, reaching $19.55. About 1.46 million shares traded. Altice USA, Inc. (NYSE:ATUS) has 0.00% since April 20, 2017 and is . It has underperformed by 11.55% the S&P500.

Analysts await Altice USA, Inc. (NYSE:ATUS) to report earnings on May, 22.

Altice USA, Inc. (NYSE:ATUS) Ratings Coverage

Among 4 analysts covering Altice USA (NYSE:ATUS), 4 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Altice USA had 4 analyst reports since November 7, 2017 according to SRatingsIntel. The company was upgraded on Friday, November 10 by Moffett Nathanson. Goldman Sachs upgraded the stock to “Buy” rating in Tuesday, November 7 report. The firm has “Outperform” rating given on Tuesday, November 14 by RBC Capital Markets. The firm has “Buy” rating by Pivotal Research given on Wednesday, December 6.

Altice USA, Inc. (NYSE:ATUS) Ratings Chart

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