CMCSA closes within previous day's range

Comcast Corp. (CMCSA) Technical Analysis Report for Sep 14, 2018

Highlights

CMCSA finds buyers at key support level
CMCSA runs into sellers again around 37.21
CMCSA closes within previous day's range

TQ Sentiment

Report Sentiment: 0% Neutral
Technical Forecast:

Overview

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.

Daily chart for CMCSA

Volatility

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.

Price Action

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.

Support/Resistance

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.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

Buying might accelerate should prices move above the nearby swing high at 37.23 where further buy stops could get triggered.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Comcast Corp.

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