Financial Market Analysis
By Shawn R. Carpenter
Tuesday, December 09, 2008
Comcast losing the war?
Comcast (CSCSA) has broken a multi-year support level around the 17.50 level. Most recently, the short interest has risen drastically, by over 80%. Roughly 43 Million shares have been shorted in the month of November, to 96 Million.
Expect prices to reach the lower level of the downward bearish channel around 11.97 at first. Given the Short Interest, I would think that there is even further downside expected.
¶ 5:17:00 PM
Comcast (CSCSA) has broken a multi-year support level around the 17.50 level. Most recently, the short interest has risen drastically, by over 80%. Roughly 43 Million shares have been shorted in the month of November, to 96 Million.Expect prices to reach the lower level of the downward bearish channel around 11.97 at first. Given the Short Interest, I would think that there is even further downside expected.
¶ 5:17:00 PM
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