Cable One is an American telecommunications company offering voice, video, and broadband services to residential and commercial customers. The company focuses on its high-speed data segment and is the leading provider of high-speed internet in the rural market. The demand for high-speed internet usage is projected to rise, and the company’s long-term prospects look bright.
The long-term monthly chart for Cable One shows an uptrend since the stock listed. This uptrend has accelerated quite significantly post 2018. In late 2020, the price crossed the 2300 level before falling close to 18% in January 2021. The 2000 level has acted as a significant resistance and support zone in recent times, and the price in February 2021 has bounced up from that level. The likely price target now looks like 2250-2300. A stop-loss can be placed below the support level around 1820.
This trade has been entered into our portfolio at the prices that follow. Entry price $2056.79. Stop-loss 11.5% below at $1820. Take profit at the top of the long term trend at $2400 with a potential profit of 17%.
On the video and images above you will see the reason this stock was selected.
You will see the image is of a monthly chart of the stock showing the long-term upwards trend formed over the years. You will also see the entry point and the where the stop loss is placed. For more information please watch the video given.
Once it is time to move the original stop loss up you will see an additional image.