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

By Nick Russo

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 $64.95 and $65.27 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.

In the past 52 weeks, Comcast share prices have been bracketed by a low of $50.00 and a high of $68.36 and are now at $65.12, 30% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.4%.

Comcast has overhead space with shares priced $65.12, or 8.1% 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.

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