Comcast Corporation could regain its upward trend after having endured a slight correction.
The global media and technology company displays solid fundamentals with an attractive valuation and an increasing profitability (EPS should rise from $2.56 to $3.18 in 2014 results). In addition, the company benefits from analysts upward revisions regarding earnings and target prices.
Technically, the uptrend in the medium and long term should protect the stock of a major downtrend. In the short term, the recent decline lead the stock to the USD 54.8 support, threshold that might put an end to the consolidation phase and allow a technical rebound. Moving averages positively oriented on both daily and weekly data should support the bullish movement.
Consequently, we expect a surge of the security price. The most active investors can open a long position in this area and target a return toward USD 58.9. A stop loss can be placed under the USD 54.85 support.