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This Media Giant Is Making New 52-Week Lows

Published 03/26/2018, 01:34 PM

Comcast's (NASDAQ:CMCSA) stock peaked on January 24, 2018 at $44 a share. Since that high pivot, the stock has tumbled and is trading around $33. CMCSA shares are now making new 52-week lows on the charts. Traders and investors should note that the stock has fallen below its important 50- and 200-day moving averages, putting the stock in a weak technical position on the charts.

Watch This Support

Comcast's next major support level is around $30 – an important area where the stock was defended back in October 2016. Remember that former major levels of support find defense when retested. At this point, I would expect this level to be a solid bounce area for Comcast.

Comcast Corporation

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