Dish Network shares continue to trade in a bull market. Should I invest in September 2021?

Dish Network Corporation (NASDAQ: DISH) shares have advanced more than 8% since the beginning of August 2021, and the current share price stands around $45.50. Dish Network has proven its stability during the first half of the 2021 fiscal year, and the second-quarter earnings results showed that it is moving in the right direction.

Fundamental analysis: Total revenue has increased by 40.8% Y/Y in the second quarter

Dish Network Corporation is an American television provider that also offers mobile wireless service to more than eight million customers. The company continues to improve its position in the market, and if you are looking for a solid return potential, shares of this company can be a good choice for long-term investors.

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Dish Network reported better than expected second fiscal quarter results in August; total revenue has increased by 40.8% Y/Y to $4.49 billion, while the GAAP EPS was $1.06  (beats by $0.17). Total revenue has increased above expectations (+60 million), and the company finished the second fiscal quarter with 10.99 million Pay-TV subscribers.

Dish acquired more than 200,000 wireless subscribers during the second quarter through an asset purchase agreement with Republic Wireless and closed the quarter with 8.90 million retail wireless subscribers. Last week, the company reported that its SLING TV would start to offer a new, exclusive Barstool Sports Channel that will be available for Sling subscribers and free users.

“We’re thrilled to partner with Barstool Sports to bring the new Barstool Sports Channel to streaming TV audiences across America, giving broader exposure to their highly engaging content and personalities. We’re confident that Barstool’s incredibly engaged and loyal audience will embrace the SLING experience, where we continually push the boundaries in streaming live and on-demand TV,” said Michael Schwimmer, President, SLING TV.

Fundamentally looking, Dish trades at less than six times TTM EBITDA, and with a market capitalization of $23.98 billion, shares of this company are fairly valued. Dish Networks’ balance sheet remains stable, and the company’s management is optimistic about the upcoming quarters in terms of growth which is certainly positive for shareholders.

Technical analysis: $35 represents a strong support level

Dish Network shares have advanced more than 8% since the beginning of August 2021, and the current share price stands around $45.50. Dish Network shares remain in a buy zone; still, if the price falls below the $35 support level, it would be a strong “sell” signal and probably a trend reversal sign.

Summary

Dish Network has proven its stability during the first half of the 2021 fiscal year, and shares of this company can be a good choice for long-term investors. Dish Network shares have advanced more than 8% since the beginning of August 2021 and continue to trade in a bull market.

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