Monday, March 26, 2018 12:00:20 PM
Comcast Corporation (NASDAQ:CMCSA) is a leading media, technology and communications company. CMCSA stock peaked out on January 24, 2018 at $44.00 a share. Since that high pivot, the stock shares have tumbled and now trade around the $33.00 level. CMCSA shares are now making new 52-week lows on the charts. Traders and investors should note that the stock has falling below its important 50 and 200-day moving averages. This current formation puts the stock in a weak technical position on the charts. The next major support level for CMCSA stock will be around the $30.00 level. This important area is where the stock was defended in October 2016. Often, former major support levels will be defended again when retested. At this time, I would expect this level to be a solid bounce area for CMCSA stock.
Nicholas Santiago
InTheMoneyStocks
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