Traders See Upside in Charter Communications (CHTR) Ahead of Sun Valley

July 10, 2013 11:52 AM EDT
Could a deal be near for Charter Communications (Nasdaq: CHTR)?

It was previously reported that Liberty Media's (Nasdaq: LMCA) John Malone might make a move for Charter to acquire Time Warner Cable (NYSE: TWC), a much larger company. Though nothing has been set in stone yet, trader action in Charter might be telling a story.

Money flow on Charter is positive $27 million with an uptick-to-downtick ratio of 3.3 times. The 14-day money flow index is at 68.1, or towards the overbought side of the scale.

Notably, CEOs from all over are attending the Allen & Company Sun Valley Conference this week and who knows if any deals might get struck in the process.

Shares of Charter are down 1.1 percent Wednesday.

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