After Forming Bearish Double Bottom Chart Pattern, Is Altice USA, Inc. (ATUS)’s Near-Term Analysis Negative?

November 10, 2018 - By Hugh Holland

The chart of Altice USA, Inc. (ATUS) shows a double bottom with $17.36 target or 6.00 % below today’s $18.47 share price. The 9 months chart pattern indicates high risk for the $13.61B company. It was reported on Nov, 10 by Finviz.com. If the $17.36 price target is reached, the company will be worth $816.84M less. Double bottoms are rare but powerful chart patterns.

The stock decreased 2.94% or $0.56 during the last trading session, reaching $18.47. About 10.40 million shares traded or 98.23% up from the average. Altice USA, Inc. (NYSE:ATUS) has declined 29.28% since November 10, 2017 and is downtrending. It has underperformed by 44.90% the S&P500.

More notable recent Altice USA, Inc. (NYSE:ATUS) news were published by: Seekingalpha.com which released: “Deal puts California net neutrality on hold” on October 26, 2018, also Seekingalpha.com with their article: “Altice USA +4.8% after best financials yet” published on November 05, 2018, Globenewswire.com published: “Report: Developing Opportunities within Rayonier Advanced Materials, Health Insurance Innovations, Columbus …” on November 08, 2018. More interesting news about Altice USA, Inc. (NYSE:ATUS) were released by: Seekingalpha.com and their article: “Guggenheim out with positive starts on pay TV” published on October 24, 2018 as well as Seekingalpha.com‘s news article titled: “CVON, VCEL among premarket gainers” with publication date: November 06, 2018.

Altice USA, Inc., together with its subsidiaries, operates as a broadband communications and video services well-known provider in the United States. The company has market cap of $13.61 billion. It operates through Cablevision and Cequel divisions. It has a 7.47 P/E ratio. The firm delivers broadband, pay television, telephony services, Wi-Fi hotspot access, proprietary content, and advertising services to approximately 4.9 million residential and business customers.

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

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