Comcast showing downtrend channel with fib lines charted. Waiting for breakout outside of channel. Good fundamental analysis so just waiting on technical indicators.
NASDAQ:CMCSA Is now retesting a broken channel, ranging between 51.50 and 49.85. Any price action below this price range will create more odds to the downside.
A close below 47.80 will void the setup.
#AHMEDMESBAH
NASDAQ:CMCSA had earnings yesterday and the stock opened and spiked below the October low. It quickly recapture the range setting up a good spike opportunity. I like taking these sort of setups because earnings is a good catalyst to move a stock (in either direction) and also removes that unknown volatility factor that could disrupt an otherwise good trade.
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Wait for a breakout to the upside, retest and another breakout to the upside before trying to ride the wave up.
Making base of triangle first before expanding price to the upside.
Comcast Corporation in daily Timeframe Correction which expected to go till March 2022...can avoid or short below 54 for target 45..
But it's better to avoid it
CMCSA broke down from its trend pattern a couple days ago on a big down day. Retraced back to support line which has now become resistance. Then following with a negative day. Not a great look but it is a great company. Was a top pick for me last year but will be moving into other places going forward. Energy, Financials, Materials, Industrials, megacap growth are...
CMCSA was beaten down badly yesterday. It is rebounding a little but I would expect resistance at the bottom of the wedge. Since this was a massive one day drop for a huge company, the next few day will let us know if this is going to continue lower or get back in its range. Could be an attempt to wipe out stops before resuming higher. It is on watch.
Asset and Time frame -Daily
Entry Price -55.58
Exit(Stop Loss) -53.54
Exit(Take Profit) -61.67
Technical Analysis -Price has been going inside an uptrend channel for a very long time, the price has reached the bottom of the channel and the daily 100 MA, price action tried breaking the channel with massive volume with no success.
CMCSA held broken resistance as support for two weeks. This also confirms the ascending triangle formation I mentioned a while ago.
I placed a buy stop order at $59.80 with a stop loss at $57.44 and a target of $65.79.
Signals:
Position: Long Entry Price: 59.49
Target Price: 66.32 Stop Loss: 58.79
Indicators:
RSI shows that CMCSA is neutral, indicating that a significant trend reversal or corrective pullback is unlikely to occur in the near future.
MACD line is above the signal line indicating the presence of a bullish momentum.
Pattern: 1. ...
The PEAD projected a Neutral outlook for $CMCSA after a Positive over reaction following its earnings release placing the stock in drift B
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First time seeing this kind of VCP contraction where every contraction also showing a single digit contraction.
C1: -9%
C2: -7%
C3: -4%
C4: -3%
Very low risk entry point. Earning report was published yesterday with YoY growth.
Will it serve the momentum to breakout like AMD? Can refer to my prefer AMD prediction in the link below.
![CMCSA: $CMCSA [Long]"Comcast Corporation" Price is now retesting..](https://s3.tradingview.com/v/VT68UOYE_mid.png "$CMCSA [Long]\"Comcast Corporation\" Price is now retesting..")
