The question on everyone's mind: Will COMCAST CORP-CLASS A breakout?

A possible breakout setup was detected on COMCAST CORP-CLASS A (NASDAQ:CMCSA) by our stockscreener. A breakout pattern is formed when a stock consolidates after a strong rise up. We note that this pattern is detected purely based on technical analysis and whether the breakout actually materializes remains to be seen. It could be interesting to keep an eye on NASDAQ:CMCSA.

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

At ChartMill, a crucial aspect of their analysis is the assignment of a Technical Rating to each stock. This rating, ranging from 0 to 10, is calculated daily by considering numerous technical indicators and properties.

We assign a technical rating of 8 out of 10 to CMCSA. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.

• The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
• Looking at the yearly performance, CMCSA did better than 89% of all other stocks. On top of that, CMCSA also shows a nice and consistent pattern of rising prices.
• CMCSA is part of the Media industry. There are 98 other stocks in this industry. CMCSA outperforms 90% of them.
• CMCSA is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so CMCSA is performing more or less in line with the market.
• In the last month CMCSA has a been trading in the 44.25 - 47.45 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.

Check the latest full technical report of CMCSA for a complete technical analysis.

How does the Setup look for NASDAQ:CMCSA

ChartMill also assign a Setup Rating to every stock. With this score it is determined to what extend the stock has been trading in a range in the recent days and weeks. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. NASDAQ:CMCSA scores a 8 out of 10:

Besides having an excellent technical rating, CMCSA also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 44.91, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

Trading breakout setups.

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed below the consolidation 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.

Our Breakout screener lists more breakout setups and is updated daily.

Keep in mind

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.