Nov 05, 2010 (SmarTrend(R) News Watch via COMTEX) -- Comcast (NASDAQ:CMCSK) traded in a range yesterday that spanned from a low of $19.60 to a high of $19.98. Yesterday, the shares gained 2.00%, which took the trading range above the 3-day high of $19.58 on volume of 5.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious. Shares of Comcast are currently trading above their 50-day moving average (MA) of $17.32 and above their 200-day MA of $17.03. Look for the MA to provide support for a short-term pullback in the shares.
SmarTrend has the shares in an Uptrend and expects the share price to pullback toward the $19.58 support level. Afterwards, we expect it to move upward with its peers in the SmarTrend CATV Systems industry.source:http://www.zacks.com
