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Comcast Attempts a Bull Flag Breakout

Long
NASDAQ:CMCSA   Comcast Corporation
Comcast has pulled back after making a new high last month, and now it could be turning upward again.

The media giant battled against a downward-sloping trend line running from March 16 through last Wednesday. But it ended last week breaking above it.

Second, notice the hammer on April 9 had its low around $52.50 -- almost exactly the high on November 24. That level held price in check through late February. Old resistance may be turning into new support.

Next, CMCSA briefly fell below its 50-day simple moving average ( SMA ) and 21-day exponential moving average ( EMA ). Now it’s back above both.

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