Comcast shares fall for a second session in a row on Friday, company closes Florida Universal parks as “Irma” is expected to strike

Comcast reportedly closed its parks in Florida as well, following Walt Disneys example, as Hurricane Irma is expected to gain strength before it reaches the state. The parks are to remain closed for two consecutive days.

Comcast shares closed lower for a second consecutive trading session on Friday. The stock went down 1.01% ($0.39) to $38.21, after touching an intraday low at $37.55, or a price level not seen since April 19th ($37.49). 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 extended its loss to 5.91% 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 10.69% so far in 2017.

Comcasts Universal Orlando Resort closed the majority of parks on Saturday and will again open on Tuesday, when the storm is expected to dissipate.

The closures will probably result in tens of millions of dollars in lost revenue for both Comcast and Walt Disney.

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 20.39% surge compared to the closing price of $38.21 on September 8th.

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 – $38.29
R2 – $38.37
R3 (Range Resistance – Sell) – $38.45
R4 (Long Breakout) – $38.68
R5 (Breakout Target 1) – $38.96
R6 (Breakout Target 2) – $39.09

S1 – $38.13
S2 – $38.05
S3 (Range Support – Buy) – $37.97
S4 (Short Breakout) – $37.74
S5 (Breakout Target 1) – $37.46
S6 (Breakout Target 2) – $37.33

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