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Comcast Stock Price: Will CMCSA Sustain The Rebound?

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  • Comcast stock price has sat up above the 20 and 50- days Exponential Moving Average.
  • Comcast’s stock price is currently trading at $41.55.
  • Comcast (CMCSA)’s live market cap is $192.92 Billion.

Cable television, broadband internet, and streaming services are just a few of the industries in which Comcast Corp., a telecommunications and media behemoth, operates. The business is well-known for its brand Xfinity and has a considerable presence in the US.

The price of Comcast’s stock has been showing a mixed trend recently from a technical perspective. Despite the fact that there have been both rising and negative trends, the overall structure points to a consolidation phase. With a string of lower highs and higher lows, the stock has been fluctuating within a very small range.

Comcast Stock Trend Analysis

Comcast’s (CMCSA) stock is clearly in an uptrend, as evidenced by higher low forms when looking at price action. Comcast’s price started to rise in October 2022, and it has remained steady despite price declines in the past.

Comcast hit an all-time high of $61.57 in September 2021 but then experienced a sharp decline to $28.38, a drop of roughly 54% in just one year. However, the stock has since shown signs of recovery, finding support around the 28% level. 

Since there are no immediate opposition points in its way, it is very likely that the price of Comcast will keep rising and eventually hit $62 based on the current trend. Comcast’s price movement’s general structure and pattern suggest that the stock has a bright future.

Comcast (CMCSA) Stock Price Prediction

Comcast CMCSA Stock Price Prediction
Source: CMCSA/USD.1W.NASDAQ by TradingView

Comcast stock’s price is currently demonstrating a strong bullish trend as it trades above the 20, 50-day Exponential Moving Averages (EMA). This points to bullish market sentiment and the potential for further price increases.

The Moving Average Convergence Divergence (MACD) indicator provides additional evidence in favor of Comcast’s upbeat estimate. A green histogram is formed and the MACD line is above the zero line, indicating strong upward momentum and the potential for future price growth.

The RSI for Comcast is near 59 which is not yet oversold this indicates that the price of the stock will gain momentum in the future and the price will move further.

The chart demonstrates that, in addition to technical indicators, Comcast’s stock volume is rising. The growing volume demonstrates that purchasers are getting more engaged and active in the market, which can support the case for the stock.

Conclusion 

In conclusion, Comcast Corporation’s stock price is currently on the rise, reflecting both an optimistic market and the company’s potential for growth. 

Indicators like the EMA and MACD support the general upward momentum, which is optimistic, as well. 

Technical Levels:

  • Support – $28.74.
  • Resistance – $62.44.

Disclaimer

The views and opinions of the author, or anyone named in this article, are for informational purposes only. They do not offer financial, investment, or other advice. Investing or trading crypto assets involves the risk of financial loss.

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