Comcast Corporation Trend May Be Changing as Price Just Breached Below Its 50 Day Moving Average

The Daily View for Comcast Corporation

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  • This is the 2nd day in a row Comcast Corporation has seen its price head up.
  • From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
  • Price action traders may also wish to note that we see a doji candlestick pattern on Comcast Corporation. Given that we see an uptrend on the 20 and 10 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Comcast Corporation’s hourly price chart is shown below.

CMCSA

The Daily View for Comcast Corporation

  • At the moment, CMCSA’s price is up $0.91 (1.69%) from the day prior.
  • This is the 2nd day in a row Comcast Corporation has seen its price head up.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe.
  • Price action traders may also wish to note that we see some doji and pin bar candlestick patterns on Comcast Corporation. Given that we see downtrend on the 20 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • Most noteworthy in the world of moving averages on the daily chart is that the 20 and 50 day moving averages have been crossed, with price now being above them. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Below is a daily price chart of Comcast Corporation.

CMCSA