CMCSA- Bearish Gartley Pattern Setup + trendline setup
Potential Short Counter. Entry Price around 61.7-62.3 . Or wait for any Reversal candlestick pattern form. Normally it is the ABC correction for the Up trend ( weekly chart 20 years )
CMCSA trade ideas
CMCSA LONG CMCSA Close to hitting the 200 day AVG and I believe it is bound to recover from last weeks beating. I am long this stock long term and now is a great time to capitalize on the bounce that is going to come this week.
Comcast - CMCSAGood evening traders,
Here is my view on Comcast Corp:
I believe we are heading to $59.25 (As a first target) due to the rejection we have experienced from the horizontal and
diagonal support; subsequently forming a pin bar.
After this level is attained, I believe we shall head on to make higher highs, however I would ideally want to be square prior to earnings report on the 2/24/15.
Possible shape of right shoulder..When the entire market is oversold two days ago, Comcast suffer the similar faith
But just when it looked bleak because a broke of trendline is first half of the trading session,
at the end of trading day it closed as a DOJI exactly on the mid-term trendline extended from Nov 2011
And there is a follow through on Friday.
With RSI gradually moving up, there is at least a short-term buy signal if price break 54 next Monday not oblivious to the fact that it an still be rejected at 54.68 due to down slope 20&50ema.
If price can break 54.69, there is a potential right shoulder.
Whether the right shoulder will mimic the left shoulder or a bigger shoulder like Auzy opera house, will find out in due course.
Comcast - Cup And Handle BreakoutPrice broke out of a resistance level, creating a textbook cup and handle breakout. If we use the dept of the cup as a target from the resistance level and most recent structure low as a stop, we have a good trade on our hand with an excellent reward to risk ratio.
Don't forget, this stock has a current dividend yield of about 1.75%.
Good luck :)
Buy CMCSAUpside to 58$ ish by mid July
Confluence zone of support at 48$
Indicators have bullish diveregence
