Comcast long after earnings

29 Okt 2021

CMCSA had earnings yesterday and the stock opened and spiked below the October low. It quickly recapture the range setting up a good spike opportunity. I like taking these sort of setups because earnings is a good catalyst to move a stock (in either direction) and also removes that unknown volatility factor that could disrupt an otherwise good trade.

CMCSA is a long term portfolio hold for me so this position is a trade and an addition on a pullback for the stock. I use Comcast and they are continuing to dominate the broadband space. I also have it in a basket strategy with other broadband related stocks such as HLIT, COMM, and CSCO.

29 Okt 2021

Catatan

On the higher timeframe analysis the earning spike and setup occurred at what I would consider a minor inflection point of price around 52. It was the top of the Q4 2020 range which was broken and then retested for the recent leg up. A full 50% Retracement would be around 47.