Comcast shares gain for a second session in a row on Wednesday, company introduces new premier platform for business clients

Comcast Corporation (CMCSA) reportedly unveiled a new, higher-speed platform for business entities in an attempt to lure commercial clientèle so that a drop in traditional video subscribership is recouped. Comcast has been trying to make a transition from the segment of small and medium-sized businesses to enterprise-class customers.

Comcast shares closed higher for a second consecutive trading session on Wednesday. The stock edged up 0.16% ($0.06) to $37.96, with the intraday high and the intraday low being at $38.31 and $37.89 respectively. In the week ended on September 10th the shares of the media giant lost 6.94% of their market value compared to a week ago, which marked the third drop out of six weeks and also the steepest one in at least two years. The stock has pared its loss to 6.53% so far during the current month, following a 0.40% increase in August. The latter has been a second straight month of gains. For the entire past year, the shares of the NASDAQ-listed company gained 22.36%. The stock has risen 9.97% so far in 2017.

The media company expects potential revenues of $40 to $50 billion from the commercial segment, while facing competition from companies such as Verizon and AT&T.

Comcast saw a 16% increase in revenue from business services in 2016.

According to CNN Money, the 29 analysts, offering 12-month forecasts regarding Comcast Corporation’s stock price, have a median target of $46.00, with a high estimate of $51.00 and a low estimate of $42.00. The median estimate is a 21.18% surge compared to the closing price of $37.96 on September 13th.

The same media also reported that 27 out of 32 surveyed investment analysts had rated Comcast Corporation’s stock as “Buy”, while 2 – as “Hold”.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, today’s levels of importance for the Comcast stock are presented as follows:

R1 – $38.00
R2 – $38.04
R3 (Range Resistance – Sell) – $38.08
R4 (Long Breakout) – $38.19
R5 (Breakout Target 1) – $38.33
R6 (Breakout Target 2) – $38.38

S1 – $37.92
S2 – $37.88
S3 (Range Support – Buy) – $37.84
S4 (Short Breakout) – $37.73
S5 (Breakout Target 1) – $37.59
S6 (Breakout Target 2) – $37.54

By using the traditional method of calculation, the weekly levels of importance for Comcast Corporation (CMCSA) are presented as follows:

Central Pivot Point – $39.03
R1 – $40.52
R2 – $42.82
R3 – $44.31
R4 – $45.79

S1 – $36.73
S2 – $35.24
S3 – $32.94
S4 – $30.63