CMCSA trade ideas
$CMCSA good entry for long term playLooking good, not a sexy stock but a long term value play. I started a small position with no stop. Will reevaluate prior to market close today.
Long after bullish engulfing pattern on WK CMCSA chartBullish engulfing pattern created at most recent WK demand
zone confirming demand area. Long top of bull engulf around
39.20 to above all time high.
Comcast Will Give Some BackComcast 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 at 72.7044. RSI tends to determine trends, overbought and oversold levels as well as likelihood of price swings. I personally use anything above 75 as overbought and anything under 25 as oversold. Currently the RSI is near overbought levels. The last two times the stock spike up to its current resistance trendline, the RSI was also at similar levels the stock was at on May 30. Both of these resistance and RSI indicators led to a 4% drop for the stock. This is the first indicator of potential near-term downward movement.
The true strength index (TSI) is currently 18.8524. The TSI determines overbought/oversold levels and/or current trend. I solely use this as an indicator of trend as overbought and oversold levels vary. The TSI is double smoothed in its calculation and is a great indicator of upward and downward movement. The TSI has been trending up, and there is no telling where its future direction shall go.
The positive vortex indicator (VI) is at 1.2278 and the negative is at 0.7091. When the positive level is higher than 1 and higher than the negative indicator, the overall price action is moving upward. When the negative level is higher than 1 and higher than the positive indicator, the overall price action is moving downward. These indicators have currently spiked favorably to the upside. This won't last forever, but as long as the positive stays above the negative this could slow any drop in the stock.
The stochastic oscillator K value is 91.0208 and D value is 95.4541. This is a cyclical oscillator that is highly accurate and can be used to identify overbought/oversold levels as well as pending reversals and short-term activity. I personally use anything above 80 as overbought and below 20 as oversold. When the K value is higher than the D value, the stock is trending up. When the D value is higher that the K value the stock is trending down. This indicator is clearly overbought. The last four times this indicator reached this point the stock fell. Similar to the RSI analysis above, This overbought level led to a 4% decline in the stock over the following weeks and the same is expected in our current case. This is the second indicator of potential near-term downward movement.
The stock is at its resistance point, the RSI and stochastic are flashing overbought. These three indicators have been accurate when occurring together during the stock's year and a half bull trend. Natural up and down movement is common in any bull or bear trend. The stock has a history of bouncing off its current resistance level down to one of two support levels before moving up again. The solid yellow line support on the bottom may not occur this time, but the dotted white line is very plausible.
Considering the RSI, TSI, VI and stochastic levels, the overall direction favors a move to the downside. Based on historical movement compared to current levels and the current position, the stock could drop at least 3% over the next 32 trading days if not sooner.
CMCSA breaking out into a rangelong 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 Approaching Wave 4 on Minor Period for a wave 5 LONGComcast 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 wave 4 on minor period. Structure suggests that we have already broken out of wave 3 Minor (confirmed) and needs to complete wave 4 before starting wave 5, which should be a great trade. Once price action reaches the top structured trendline, we can take a massive SHORT to trade the correction/consolidation of the chart for some really great profits ! My gut feeling is that this stock will drop substantially, possibly below the lower trendline but we shall wait for now to see which way investors view the continuous dubious practices which have landed Comcast the largest ever FCC cable fine ($2.3 Million) which suggests upper management panic due to possible poor subscriber numbers, together with CNN's continuous engagement into fake news announcements and leftist rhetoric and poorly executed journalism, resulting in very low viewer audience which may possibly affect investor confidence over the next year.
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DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk.
Plan your trade and trade your plan... and IF in doubt, stay out.
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Correction time for COMCAST?Hello Traders,
It seems like, it's a correction time for COMCAST. We have observed Bearish AB=CD pattern on weekly chart. The PRZ is hihglighted on the chart and it is made of AB=CD and 2BC Fibonacci ext. We can clearly see that price is resting in this area and we may see reversal from here. On lower time frame, price has made a double-top with RSI divergence which is also a bearish signal.
Happy Trading!!!
Just started with stocksLooked at this for a friend but don't have as much knowledge in stocks as forex.
don't trade this idea. just food for thought.
Buyout of Soul And Vibe, Inc (SOUL)There are rumors among major shareholders that Soul And Vibe (SOUL) is interested in selling. I think a deal may already be in the works.
CMCSA: Take the not too crowded shortLet's enter shorts in CMCSA at market price, stop loss is 68.32. Looks like a good chance with bearish RgMov signals pointing to further downside, while the daily chart uptrend turns around dropping under the Key Earnings Support level above. This is a very conservative stop loss, but I prefer to take small risks when it comes to fighting the trend.
Good luck!
Ivan Labrie.
