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

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish 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 $43.24 and $43.44 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. Traders and investors interested in shares of Comcast Corp-A may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Over the past year, Comcast Corp-A has traded in a range of $32.61 to $47.27 and closed yesterday at $43.28, 33% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has declined 0.2%.

Comcast Corp-A has overhead space with shares priced $43.28, or 3.9% below the average consensus analyst price target of $45.05. Comcast Corp-A shares should first meet resistance at the 200-day moving average (MA) of $43.32 and find additional resistance at the 50-day MA of $44.51.

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: bullish am inside day candle comcast corp-a

Ticker(s): CMCSA