Trading Idea - Key levels for Comcast

Published on Monday, 30 August 2010 07:40 Written by Danny Miller

New York, August 30th (TradersHuddle.com) - Shares of Comcast Corporation (NASDAQ:CMCSA) are trading very close to calculated support at $16.76 with current price action closing at just $17.25 places the stock price near levels where traders will start paying attention.

Comcast Corporation (NASDAQ:CMCSA) provides a wide range of cable services. The Company offers a variety of entertainment, information and communications services to residential and commercial customers. Comcasts services include programming, Hi-speed Internet, and broadband phone service. The company is based in Philadelphia, Pennsylvania.

Comcast's current stock range is defined by current calculated support defined at $16.76 and by the resistance level at $19.80, which should be used by traders planning their trades.

Traders wanting to establish a position should place close attention to Comcast's price action, and establish a position as close to support as possible, but only after buying materializes. Traders should understand that the resistance point at $19.80 might limit their upside, however if the stock breaks resistance, it could be a good point to add to the position.