Comcast Corporation (NASDAQ: CMCSA) shares rose in value in early trading today on slower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile, in early trading today the Dow Jones Industrial Average DJIA, +0.19% rose 40 points, or 0.2%, to 19,929 while the S&P 500 SPX, +0.31% added 5 points to 2,275, a rise of 0.2%. The Nasdaq Composite Index COMP, +0.53% climbed 19 points, or 0.3%, to 5,567.
Analysts at Deutsche Bank AG upgraded shares of Comcast Corporation (NASDAQ: CMCSA) from Hold to Buy today. Deutsche Bank AG currently has a rating of Buy on the shares. A number of other analysts have commented on the stock in recent days, and the company has secured a consensus one-year price target of $77.18, higher than the opening price of $72.00, a difference of 10.61 percent. Comcast Corporation stock has a 52-week high of $72.76. Share prices often shift to the upside on recommendations and new price targets of professional brokerage firms.
Shares of Comcast Corporation (NASDAQ: CMCSA) opened at $72.00 yesterday trading between $71.76 and $72.76, and last traded at $72.76, which is an increase of $1.34 over the previous closing price.
Comcast Corporation (NASDAQ: CMCSA) currently has a market cap of 174.10B.
Comcast Corporation (NASDAQ: CMCSA) Average Daily Trading Volume
The stock’s average daily volume is 10,646,500 shares out of a total float 2,372,756,000 and some 1,684,883 shares traded hands yesterday, 29 percent below normal. lower than normal. Look for trading volume to pick up in the coming days as swing traders often use upticks in trading volume to identify heavy volume accumulation or distribution by institutional investors.
While increased trading for one day will not mean much, conversely, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors retain substantial teams of analysts that research thousands of stocks, so it is good confirmation to see them buying a stock you’re considering.
Comcast Corporation (NASDAQ: CMCSA) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.
Trades for Comcast Corporation (NASDAQ: CMCSA) have ranged from $52.34 – 72.76, and the stock now has a 50-day MA of $69.63 and 200-day MA of $66.56. Today’s last price is the highest it’s been for the past 52 weeks.
Earnings growth is an important factor to look at when buying stocks and investors watch for companies that have been successful at growing their earnings by at least 25% for 3 consecutive years.
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