Comcast leans on SMA support - Analysis - 25-06-2020

Comcast's stock slid 1.63% in the last session, leaning on the support of the 50-day SMA, while gathering momentum to help it rise anew, as it settled above the support of 37.77, representing the ratio 38.2% of Fibonacci retracement levels for a descending wave in the medium term (from 47.68 to 31.63), as the RSI reached oversold levels. 

Therefore we expect the stock to return higher, targeting the resistance of 39.65, representing the ratio 50% of the same retracement levels. 

Expected trend for today: Bullish