# Charter Communications, Inc. (CHTR)

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## Stock Price Trends

Stock price trends estimated using linear regression.

#### Key facts

- The primary trend is decreasing.
- The decline rate of the primary trend is 28.07% per annum.
- CHTR price at the close of December 8, 2023 was $367.55 and was inside the primary price channel.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 20.42% per annum.
- CHTR price at the close of December 8, 2023 was inside the secondary price channel.
- The direction of the secondary trend is opposite to the direction of the primary trend. This indicates a possible reversal in the direction of the primary trend.

### Linear Regression Model

Model equation:

Y_{i} = α + β × X_{i} + ε_{i}

Top border of price channel:

Exp(Y_{i}) = Exp(a + b × X_{i} + 2 × s)

Bottom border of price channel:

Exp(Y_{i}) = Exp(a + b × X_{i} – 2 × s)

where:

i - observation number

Y_{i} - natural logarithm of CHTR price

X_{i} - time index, 1 day interval

σ - standard deviation of ε_{i}

a - estimator of α

b - estimator of β

s - estimator of σ

Exp() - calculates the exponent of e

### Primary Trend

Start date: November 4, 2020

End date: July 19, 2023

a = 7.3149

b = -0.0009

s = 0.1371

Annual growth rate:

Exp(365 × b) – 1

= Exp(365 × -0.0009) – 1

= -28.07%

Price channel spread:

Exp(4 × s) – 1

= Exp(4 × 0.1371) – 1

= 73.07%

#### November 4, 2020 calculations

Top border of price channel:

Exp(Y_{480})

= Exp(a + b × X_{480} + 2 × s)

= Exp(a + b × 695 + 2 × s)

= Exp(7.3149 + -0.0009 × 695 + 2 × 0.1371)

= Exp(6.9618)

= $1,055.56

Bottom border of price channel:

Exp(Y_{480})

= Exp(a + b × X_{480} – 2 × s)

= Exp(a + b × 695 – 2 × s)

= Exp(7.3149 + -0.0009 × 695 – 2 × 0.1371)

= Exp(6.4133)

= $609.90

#### July 19, 2023 calculations

Top border of price channel:

Exp(Y_{1,158})

= Exp(a + b × X_{1,158} + 2 × s)

= Exp(a + b × 1,682 + 2 × s)

= Exp(7.3149 + -0.0009 × 1,682 + 2 × 0.1371)

= Exp(6.0709)

= $433.07

Bottom border of price channel:

Exp(Y_{1,158})

= Exp(a + b × X_{1,158} – 2 × s)

= Exp(a + b × 1,682 – 2 × s)

= Exp(7.3149 + -0.0009 × 1,682 – 2 × 0.1371)

= Exp(5.5224)

= $250.23

### Secondary Trend

Start date: September 19, 2022

End date: December 4, 2023

a = 5.1111

b = 0.0005

s = 0.0815

Annual growth rate:

Exp(365 × b) – 1

= Exp(365 × 0.0005) – 1

= 20.42%

Price channel spread:

Exp(4 × s) – 1

= Exp(4 × 0.0815) – 1

= 38.55%

#### September 19, 2022 calculations

Top border of price channel:

Exp(Y_{950})

= Exp(a + b × X_{950} + 2 × s)

= Exp(a + b × 1,379 + 2 × s)

= Exp(5.1111 + 0.0005 × 1,379 + 2 × 0.0815)

= Exp(5.9763)

= $393.97

Bottom border of price channel:

Exp(Y_{950})

= Exp(a + b × X_{950} – 2 × s)

= Exp(a + b × 1,379 – 2 × s)

= Exp(5.1111 + 0.0005 × 1,379 – 2 × 0.0815)

= Exp(5.6502)

= $284.35

#### December 4, 2023 calculations

Top border of price channel:

Exp(Y_{1,254})

= Exp(a + b × X_{1,254} + 2 × s)

= Exp(a + b × 1,820 + 2 × s)

= Exp(5.1111 + 0.0005 × 1,820 + 2 × 0.0815)

= Exp(6.2008)

= $493.16

Bottom border of price channel:

Exp(Y_{1,254})

= Exp(a + b × X_{1,254} – 2 × s)

= Exp(a + b × 1,820 – 2 × s)

= Exp(5.1111 + 0.0005 × 1,820 – 2 × 0.0815)

= Exp(5.8747)

= $355.94