CMCSA closes within previous day's range
Comcast Corp. (CMCSA) Technical Analysis Report for Sep 14, 2018
CMCSA ended the week 2.18% higher at 36.96 after losing $0.08 (-0.22%) today. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range.
Friday's trading range was $0.49 (1.32%), that's slightly below last trading month's daily average range of $0.55. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly below average.
During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar.
After trading as low as 36.72 during the day, the share bounced off the key support level at 36.79. The failure to close below the support could increase that levels importance as support going forward. After having been unable to move above 37.23 in the previous session, Comcast Corp. ran into sellers again around the same price level today, failing to move higher than 37.21.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying might accelerate should prices move above the nearby swing high at 37.23 where further buy stops could get triggered.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
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