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NASDAQ:CMCSA may be ready to breakout.

By Mill Chart

Last update: Sep 20, 2023

Our stockscreener has identified a possible breakout setup on COMCAST CORP-CLASS A (NASDAQ:CMCSA). This occurs when the stock consolidates following a significant upward movement. While the breakout outcome cannot be guaranteed, it may be worth monitoring NASDAQ:CMCSA for potential opportunities.

CMCSA Daily chart on 2023-09-20

What is the technical picture of NASDAQ:CMCSA telling us.

Every day ChartMill assigns a Technical Rating to every stock. The score ranges from 0 to 10 and is determined by evaluating multiple technical indicators and properties.

Overall CMCSA gets a technical rating of 9 out of 10. Both in the recent history as in the last year, CMCSA has proven to be a steady performer, scoring decent points in every aspect analyzed.

  • The long and short term trends are both positive. This is looking good!
  • When comparing the yearly performance of all stocks, we notice that CMCSA is one of the better performing stocks in the market, outperforming 91% of all stocks. On top of that, CMCSA also shows a nice and consistent pattern of rising prices.
  • CMCSA is one of the better performing stocks in the Media industry, it outperforms 95% of 98 stocks in the same industry.
  • CMCSA is currently trading near its 52 week high, which is a good sign. The S&P500 Index is trading in the upper part of its 52 week range, but not near new highs, so CMCSA is leading the market.
  • In the last month CMCSA has a been trading in the 44.25 - 47.30 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.

Our latest full technical report of CMCSA contains the most current technical analsysis.

Why is NASDAQ:CMCSA a setup?

Alongside the Technical Rating, ChartMill assigns a Setup Rating to evaluate the consolidation level of a stock. This rating, ranging from 0 to 10, is updated daily and considers various short-term technical indicators. The current setup rating for NASDAQ:CMCSA is 8:

Besides having an excellent technical rating, CMCSA also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a support zone below the current price at 45.62, a Stop Loss order could be placed below this zone.

Trading breakout setups.

For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the zone.

Disclaimer: This article is not intended to provide trading advice. It is crucial to conduct your own analysis and consider your own observations and trading style when making investment decisions. The article solely presents technical observations and should not be relied upon as a sole basis for trading.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.


Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.