Comcast Corporation
Singkat

CMCSA daily possible short opportunity

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THE CONSISTENT TRADES analyze CMCSA as a bearish /weak fundamental stock and therefore would be traded only in a short position.

CMCSA is in a rising wedge pattern which break could be bearish and fast. It enters into resistance from gapping down and fills most of that gap. If rejection continues and the price fall below the trend line, the short opportunity would occur after dropping below the blue dotted line.

Volume is neutral.
It is above all major MA which is bullish.
However, RSI and MACD have strong and powerful bearish divergences which indicate there is no more momentum in price moving up.

Overall: After the price reaches the resistance level and closes the gap, there is a high chance to retest major MA. Drop out of the pattern would indicate a massive short-selling opportunity. FGirst major support would be BigRed. However, if the price continues to consolidate on this level, without a big drop with a big volume, there could be a bull move, which we wouldn't play because it is bearish fundamental stock.

Penafian

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