CMCSA – Comcast Cl A
Comcast Cl. A (8/25/15) Short-term (Neutral) : Intermediate Term (Positive) : Long-term (Positive) The longer-term base pattern is very well defined for Comcast. Not only the lower pattern from December 2015 to March 2016 below 60, but the broader and more expansive pattern below 63.50 down to 52 can support a price target of 75. Short term, we are seeing the impact of the pullback phase impacting one of the leading stocks in the sector. There was a momentum divergence with the MACD in July, as price made a higher high. However, this consolidation phase has broken down, but is approaching very solid and impressive support below 63.50. while the uptrend line comes into play a bit higher, it is a tentative line that would not break a pattern if we dip below. The 200-day moving average adds to the support are at 61.13. Comcast is leading in what we expect to see for the sector as a whole and continues to be a long term positive chart.