Comcast – Bulls remain in charge

The share of the Comcast Corp. (WKN: 157484) had reached a record high of USD 61.80 in September 2021 and collapsed in the subsequent bear market to a 6-year low of USD 28.39 recorded in October 2022. The subsequent recovery rally pushed the price up to USD 47.46 seen in August 2023. After a downward correction to the October low of $37.92, the medium-term trend is upwards again. In yesterday’s trading, the price rose in response to published Quarterly figures to a 4-month high of $46.34 before moderate profit-taking began. The bullish bias remains intact in the short-term time frame as long as the support at USD 43.09-43.57 is not breached by the daily close. The support at USD 42.08-42.62 is critical in the medium term. The areas of USD 46.15-46.34 and USD 47.46-49.04 act as potential next targets and hurdles. In order to significantly brighten the long-term chart picture, the latter zone must be overcome sustainably. If successful, a push towards USD 52-55 would be conceivable over the course of several months.

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