Comcast Between the 50 and 200Day

Published on Friday, 03 September 2010 06:48 Written by Danny Miller

New York, September 3rd (TradersHuddle.com) - Shares of Comcast Corporation (NASDAQ:CMCSA) closed the trading session at $18.08 near its 50 day and 200 day moving averages currently set at $18.27 and $17.53 respectively. Comcast's price action is above the 200 day moving average but below its 50 day moving average, signaling a possible break out.

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 price action seems to be setting up for a tight range between the 200 day moving average as support and the 50 day moving average serving as resistance.

A tiered approach to enter the stock, appears to be the best way to maximize possible movements from the stock, as traders could enter Comcast with a small position and wait for the stock to break out above the 50 day moving average at $18.27, where traders could add to their position as momentum builds with the breakout. The flip side will be if support being referenced at the 200 day moving average set at $17.53 breaks it could mean further downside in the horizon for Comcast.