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- 1 The year-to-date return of Comcast Corporation is 28.88% while the three-month return is 11.88%.
- 2 Comcast stock price trades above the 50 and 100-day daily moving average, buyers are facing some resistance as the price is near key resistance.
- 3 Comcast Corporation (NASDAQ: CMCSA) stock’s 52-week price range is around $28 – $47.
CMCSA stock has been rising since the beginning of 2023 and has shown buyer accumulation. The stock encountered a barrier near the supply range and retracement in the previous sessions.
Vanguard Group Inc. is the top shareholder of CMCSA stock and owns 9.46% of the company, with a current value of $17.5 Billion and a total CMCSA share count of 390,360,150. Moreover, According to the financial website Simply Wall St, no significant insider selling of Comcast Corporation shares occurred in the last three months. This is a positive sign that the insiders are confident in the company’s prospects and performance.
According to the price action, it seems that the CMCSA stock is ready for a significant increase, with potential growth in price for the upcoming sessions. The buyers are supporting the stock’s upward movement by working hard to keep these levels.
CMCSA’s stock price was at $45.03 with an intraday increase of 0.42%. Moreover, the intraday trading volume of CMCSA is 19.859 Million more than the 10-day aggregate volume of 17.051 Million. The stock has a market cap of $185.755 Billion and floating shares are 4.083 Billion. Analysts gave a “buy” rating with the highest yearly target price of $55, suggesting a growth outlook for future sessions.
Based on recent data, the revenue of Q2 2023 was $30.51 Billion with a net income of 4.25 Billion. Moreover, the CMCSA stock estimated EPS for Q2 23 was 0.982, and the reported EPS was 1.13 which gave a positive surprise of 15.12%. Moreover, the forecasted EPS for the next quarter is positive at 0.948.
The CMCSA stock continues to show bullish momentum in the uptrend above the key moving averages. However, the trend has recently shown a few traits of a weakening in the share price but above the major EMA. On the daily charts, CMCSA stock is in the bullish zone and has maintained the uptrend above the 50 and 100-day EMAs.
Technical Analysis of CMCSA Stock Price in 1-D Timeframe
As per price action, CMCSA was in a bullish trend from May to October 2022 before 2023 started. The CMCSA price found support around $28 and was strongly bought. From the low of $28 to the high of $47, the journey was strongly upward, the yearly high was reached by August 16th, 2023. Moreover, the price moved along the Fibonacci levels and rose steadily from here.
As per the CMP $45.03 (at press time), the price faced some resistance earlier and dropped and took support at 50 EMA, from here it is trying to take a rebound and aim to bounce back upwards. Moreover, most of the quarterly reports show that the CMCSA stock is bought.
The current stock price of CMCSA stock might achieve more, there is a possibility for the price to move toward the next resistance level of $46 and $48.
On the other hand, if the price breaks below the $39 significant support level, it might fall toward $38 and beyond.
At the time of publishing, Comcast Corporation (NASDAQ: CMCSA) is trading above the 50, and 100 EMA. RSI is around 47 that turned neutral and MACD gave a bearish crossover on the charts.
Summary
Comcast Corporation. (NASDAQ: CMCSA) indicates that the traders and investors of the stock price are uncertain on the 1-D time frame. The price action shows a consolidation to bullishness at the time of publishing. However, The technical analysis tools of Comcast stock price have uncertainty. The EMA, RSI, and MACD highlight consolidation in the stock price.
Technical Levels
Support levels: $39 and $38
Resistance levels: $46 and $48
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
