Comcast Corporation (NASDAQ: CMCSA) shares were down on Tuesday January 31 on lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock, boosting the price target of stock.
Meanwhile, The Dow Jones Industrial Average DJIA, -0.60% fell 140 points, or 0.7%, to 19,833, with 26 of the 30 blue-chip companies trading lower. Nike, Inc. NKE, -1.10% down 2.4% and Intel Corp. INTC, -1.70% off 1%, were leading losses.
The S&P 500 SPX, -0.33% was off by 10 points, or 0.5%, to 2,270 with seven of the 11 main sectors trading lower. Industrials, consumer-discretionary, and technology shares were the worst performers, while real estate and utilities stocks attracted buyers.
The health-care sector, which was down in early trade, rebounded after President Trump called for scaling back drugmaker’s regulation, lowering taxes and prices of medicines.
The Nasdaq Composite COMP, -0.25% declined 31 points, or 0.6%, to 5,581.
Comcast Corporation (NASDAQ: CMCSA) had its price target increased by equities researchers at RBC Capital Markets from $72.00 to $80.00. With a rating of Outperform on the stock, the company has a 52-week high of $76.87. A number of other analysts have commented on the stock recently, and Comcast Corporation has earned a consensus one-year price target of $81.39, higher than the opening price of $75.12.
Yesterday Comcast Corporation (NASDAQ: CMCSA) shares last traded at $75.03, which is a dip of $0.32 compared to the previous closing price. Opening at $75.12, they varied from $74.93 and $75.43 throughout the day.
Comcast Corporation (NASDAQ: CMCSA) now has a market cap of 180.81B.
Comcast Corporation (NASDAQ: CMCSA) Average Daily Trading Volume
The stock’s average daily volume is 10,855,000 shares out of a total float 2,389,780,000 and some 824,926 shares traded hands yesterday, 88 percent below the average. lower than normal. Look for trading volume to pick up in the coming days as momentum traders often use swings in trading volume to identify heavy volume accumulation or distribution by institutional investors.
As with all potential breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors retain teams of analysts researching thousands of stocks, so it is good validation to see them taking a postion in a stock you are 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 $54.38 – 76.870, and the stock now has a 50-day MA of $71.45 and 200-day MA of $67.49. Today’s last price is 2.40%% under the 52 week high of $76.87.
Earnings growth is a crucial factor to look at when investing in stocks and investors identify companies that have raised their earnings by at least 25% over a 3 year period.
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