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

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Comcast (NASDAQ:CMCSA) based on the price action in the company's shares. Today's price range of $65.45 and $66.14 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 may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Comcast Corporation provides a wide range of cable services. The Company offers a variety of entertainment, information and communications services to residential and commercial customers. Comcasts services include programming, Hi-speed Internet, and broadband phone service.

Comcast share prices have moved between a 52-week high of $68.36 and a 52-week low of $50.00 and are now trading 31% above that low price at $65.48 per share. The 200-day and 50-day moving averages have moved 0.11% lower and 0.41% higher over the past week, respectively.

Comcast has overhead space with shares priced $65.48, or 7.6% below the average consensus analyst price target of $70.86. The stock should find initial support at its 50-day moving average (MA) of $60.46 and further support at its 200-day MA of $59.05.

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

Keywords: bearish inside day candle Comcast

Ticker(s): CMCSA