The Greedy Trader Weekly Analysis
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Downtrend Broken Resistance
Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.
Technical analysis of stock trend chart following long term trend analysis and trend following indicator for broken resistance trend trading. Stock trend analysis and broken resistance trend following indicators.
trend trading,trend following,stock trend chart,technical analysis of stock trend,trend following indicator,following long term trend,Broken Resistance

Downtrend Broken Resist.

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- 9/11/2020 -
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Comcast Corp. (CMCSA)

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range is overboughtBroken trend resistance line
Daily :Daily  MACD line has moved below its signal lineThe price has risen above the Parabolic SARThe period of low volatility of the stock price
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It was a first positive week for the Comcast Corp. (CMCSA). During the week, the CMCSA climbed 0.24 points, or 0.54%, and closed at 44.67 on Friday, September 11, 2020. Weekly volume was -41% below average.

CMCSA is a member of Communication Services Sector. Communication Services is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See CMCSA long-term trend chart]
A long-term downtrend had started on January 17, 2020 at 47.74 and reached 31.71 on March 23, 2020. CMCSA lost 16.03 points, or 33.58%, in 9 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (42.32) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See CMCSA medium-term trend chart]
A medium-term uptrend had started on March 23, 2020 at 31.71 and reached 45.94 on September 3, 2020. CMCSA gained -14.23 points, or -44.88%, in 23 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 42.32 and resistance is at 53.25. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See CMCSA weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.

The weekly MACD line is above its signal line since May 22, 2020. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See CMCSA short-term trend chart]
A short-term downtrend had started on September 3, 2020 at 45.94 and reached 43.12 on September 8, 2020. CMCSA lost 2.82 points, or 6.14%, in 5 days. The price is now at the 54.96% retracement level.

Daily Technical Indicators: [See CMCSA daily technical indicators chart]
Daily technical indicators are neutral.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

The distance between the Bollinger Bands is falling, and it was 5.46% on Friday. It is 53.74% lower than one year average. It indicates the period of low volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 62.78
Williams' Percentage Range (W%R) 57.40
Lane's Stochastic (%D-Slow) 43.85
Greed/Fear Indicator (GFI) 49.72
Moving Average Converg./Diverg. (MACD) 0.54
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 60.56
Williams' Percentage Range (W%R) 15.70
Overbought
Lane's Stochastic (%D-Slow) 79.29
Greed/Fear Indicator (GFI) 75.08
Moving Average Converg./Diverg. (MACD) 0.30
Trading Signals
Description Value Chart
Monthly Trendline Resistance 53.25
Upper Bollinger Band 45.26
Weekly Stochastic Crossing 45.15
Price 44.67
Daily Stochastic Crossing 44.31
20 Day Moving Average 44.10
Parabolic System 43.12
50 Day Moving Average 42.92
Lower Bollinger Band 42.81
Quarterly Trendline Support 42.32
Monthly Trendline Support 42.32
Quarterly Trendline Resistance 40.05
Sector and Industry
Description Name Rank
Sector Communication Services 9
Industry Cable & Satellite 88
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 45.94
High Date 09/03/2020
Low 43.12
Low Date 09/08/2020
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 37.77
Low Date 06/25/2020
High 45.94
High Date 09/03/2020
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 53.25
Support 42.32
Low 31.71
Low Date 03/23/2020
High 45.94
High Date 09/03/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 40.05
Support 42.32
High 47.74
High Date 01/17/2020
Low 31.71
Low Date 03/23/2020
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 30.43
Low Date 05/09/2018
High 47.74
High Date 01/17/2020
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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