Check for support near 29.20

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(CMCSA 12M chart)

CMCSA is located near key support and resistance levels.

If it falls below 27.78, it could fall to around 12.90. Therefore, to sustain the uptrend, it must find support near 27.78.

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(1D chart)

Since the price is below the M-Signal indicator on the 1M chart, the top priority is to see if it can rise above the M-Signal indicator and maintain its upward momentum.

To achieve this, it must find support at three support and resistance levels and then rise.

The three support and resistance levels are:
29.20,
27.78 ~ 28.03, and
26.65.

Since a volume profile zone has formed at 26.65, the area around 26.65 is the most important support and resistance point among the three support and resistance levels.

However, if the price declines from 29.20 or 27.78 to 28.03, there's a high possibility of strong selling pressure, so caution is advised when trading.

A full-blown uptrend is likely to begin with an upward breakout above 35.09.

To ensure this, check for upward trends in the StochRSI, TC, and OBV indicators.

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Thank you for reading to the end.
I wish you successful trading.

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