• Return to Headlines

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

By Amy Schwartz

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 $40.94 and $41.30 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.

Comcast Corp-A has overhead space with shares priced $40.99, or 9.6% below the average consensus analyst price target of $45.36. The stock should find initial support at its 50-day moving average (MA) of $36.28 and further support at its 200-day MA of $33.53.

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.

Over the past year, Comcast Corp-A has traded in a range of $30.02 to $42.18 and is now at $40.99, 37% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.2%.

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