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Uptrend SupportArchive
- 12/13/2024 -
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Comcast Corp. (CMCSA) Technical Analysis
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| Summary:
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| | It was the negative week for the Comcast Corp. (CMCSA). During the week, the CMCSA dropped -3.23 points, or -7.49%, and closed at 39.92 on Friday, December 13, 2024. Weekly volume was 61% above average.
CMCSA is a member of Communication Services Sector. Communication Services is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See CMCSA long-term trend chart]
A long-term downtrend had started on August 16, 2023 at 47.46 and reached 36.43 on April 26, 2024. CMCSA lost 11.03 points, or 23.24%, in 36 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 34.51 and resistance is at 46.44. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.
 Medium-term trend: [See CMCSA medium-term trend chart]
A medium-term uptrend had started on April 26, 2024 at 36.43 and reached 45.31 on October 31, 2024. CMCSA gained -8.88 points, or -24.38%, in 26 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend support (39.28) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a medium-term trend.
 Weekly Technical Indicators: [See CMCSA weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since July 12, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See CMCSA short-term trend chart]
A short-term downtrend had started on October 31, 2024 at 45.31 and reached 38.76 on December 9, 2024. CMCSA lost 6.55 points, or 14.46%, in 39 days. The chart has formed a Falling Wedge chart pattern. The downtrend support line (41.51) is broken. Usually a broken support is considered to be a long-term bearish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a short-term trend.
 Daily Technical Indicators: [See CMCSA daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is below its signal line since November 14, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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