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

By Shiri Gupta

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. Today's price range of $41.76 and $41.76 is within yesterday'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.

In the past 52 weeks, Comcast Corp-A share prices have been bracketed by a low of $30.43 and a high of $41.80 and are now at $41.76, 37% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has risen 0.4%.

Comcast Corp-A (NASDAQ:CMCSA) has potential upside of 7.9% based on a current price of $41.76 and analysts' consensus price target of $45.05. Comcast Corp-A shares have support at the 50-day moving average (MA) of $39.13 and additional support at the 200-day MA of $36.69.

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 tracking the current trend status for Comcast Corp-A and will alert subscribers who have CMCSA in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle comcast corp-a

Ticker(s): CMCSA