Swing Trade Idea (CMCSA) – March 23, 2021
Our bullish trade for Tuesday, March 23rd is Comcast Corp (CMCSA). CMCSA is part of the Communications Sector (XLC). XLC has experienced a 8.2% gain and both 1M and 6M trends are bullish.
CMCSA has recently pulled back to an area of support at $55 and bounced higher with strong momentum providing a good risk/reward for a long entry. With a technical score of 6 (out of 10), CMCSA is a neutral stock that will likely move higher.
As a stop loss, if CMCSA were to trade below $55 for multiple days, this would invalidate our analysis and we would focus on cutting losses on the trade. We also would consider cutting losses on this options trade if the value of the vertical spread moves above $2.00.
