Symantec Corp engages the resistance trying to pass it – analysis 01-07-2016

Symantec Corp ended trades on Thursday higher by (0.19 point) point or (0.93%) from the previous closure after the price continued it bearish movement during the previous trades trying to trade above 20.45 level, after falling from 21.50 resistance, comes after the previous decline during the med-long periods which reached to the support level of 16.50, to rebound from this support passing 17.95 level during the previous near trades with the price passing the SMA 100, leading the price for a continuous bullish movement caused the passing of 19.10 level to reach 20.45 resistance by the end of the week trades.

The prices may return to its bearish decline in case it held below 20.45 level to target then the next support 19.10, but trading back above 20.45 resistance will push the price ahead then next resistance 21.50.