Comcast Approaching Wave 4 on Minor Period for a wave 5 LONG
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 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.
.....::::: If you like this chart, please click on the THUMBS UP ! :::::.....
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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.
.....::::: If you like this chart, please click on the THUMBS UP ! :::::.....
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