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Possible Bearish Inside Day Candle Pattern Detected for Comcast Corp-A (NASDAQ:CMCSA)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Comcast Corp-A (NASDAQ:CMCSA) based on the price action in the company's shares. Yesterday's price range of $45.06 and $45.54 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Comcast Corp-A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Comcast Corp-A (NASDAQ:CMCSA) is currently priced 0.4% above its average consensus analyst price target of $45.05. Comcast Corp-A shares have support at the 50-day moving average (MA) of $44.58 and additional support at the 200-day MA of $41.51.

In the past 52 weeks, Comcast Corp-A share prices have been bracketed by a low of $32.61 and a high of $47.27 and closed yesterday at $45.23, 39% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has risen 0.4%.

Comcast Corporation provides media and television broadcasting services. The Company offers video streaming, television programming, high-speed internet, cable television, and communication services. Comcast serves customers worldwide.

SmarTrend is monitoring the recent change of momentum in Comcast Corp-A. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Comcast Corp-A in search of a potential trend change.

Keywords: bearish am inside day candle comcast corp-a

Ticker(s): CMCSA