Comcast has been in a bullish trend since January 2016. During this course of this trend, the stock has moved down after hitting resistance. The stock is currently at this point of resistance and should follow suit by moving down. Near-term downward movement is outlined below.
When we take a look at other technical indicators, the relative strength index (RSI) is...
long term uptrend slightly weakening
momentum pointing upward with positive volume pressure and increasing relative strength
couple of minor resistances ahead.. re-entering a range and consolidating and possibly testing major resistance of 39.31
patience pays..better opportunities out there
Comcast Corp New seems to be approaching the completion of a Wave 4 on the Minor period before continuing upwards for a Wave 5 to the upper structured trendline. Stochastic seems to be approaching overbought position whilst RSI seems to indicate downwards movement to oversold position, as well as MACD suggests continued downwards movement for a confirmation of...
