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

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Comcast (NASDAQ:CMCSA) based on the price action in the company's shares. Today's price range of $65.44 and $65.69 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. Traders and investors interested in shares of Comcast may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

There is potential upside of 8.1% for shares of Comcast based on a current price of $65.55 and an average consensus analyst price target of $70.86. The stock should discover initial support at its 50-day moving average (MA) of $60.46 and subsequent support at its 200-day MA of $59.05.

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 $65.55 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 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.

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: bullish inside day candle Comcast

Ticker(s): CMCSA