Comcast Corporation (NASDAQ: CMCSA) shares rose in value on Friday, January 13 on heavier trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile, The Dow Jones Industrial Average DJIA, -0.03% slipped 5.27 points to close 19,885.73, moving in a roughly 100-point range all session. For the week, the blue-chip index is off 0.4%.
U.S. financial markets will be closed Monday for Martin Luther King Jr. Day.
The S&P 500 index SPX, +0.18% added 4.20 points, or 0.2%, to end at 2,274.64 for a weekly loss of 0.1%, and the Nasdaq Composite Index COMP, +0.48% climbed 26.63 points, or 0.5%, to finish at 5,574.12, its sixth all-time closing high in seven trading sessions.
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. As a means of comparison, a number of other analysts have spoken on the stock recently, and the company has earned 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 $72.94. Usually, after analysts assign an upgrade report on a stock, they will subsequently issue recurring revisions, often followed by a price target change.
Shares of Comcast Corporation (NASDAQ: CMCSA) opened at $72.00 yesterday and traded in a range between, $71.76 and $72.94, and last traded at $72.77, which represents a spike of $1.35 compared to the previous closing price.
Comcast Corporation (NASDAQ: CMCSA) currently has a market cap of 174.13B.
Comcast Corporation (NASDAQ: CMCSA) Average Daily Trading Volume
11,646,778 shares traded hands yesterday, 42 percent higher than normal, out of a total float 2,372,756,000. higher than normal. Significant increases in trading volume and price appreciation together could signal heavy volume accumulation by institutional investors.
While increased trading for short periods will not mean much will not mean much, however, 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 watching their interests is a good way to ensure you are buying the right stocks.
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.
With that in mind, Comcast Corporation (NASDAQ: CMCSA) now has a 50-day MA of $69.63 and 200-day MA of $66.56. It has traded in a 52-week range between $52.34 – 72.94 and today’s last price is 0.23%% lower than the 52 week high of $72.94.
Earnings growth is a crucial factor to research when investing in stocks and investors seek companies that have grown their earnings by at least 25% for the past 3 years.
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