Symantec Corp experience a negative closure despite the rise– analysis 26-08-2016

Symantec Corp ended trades on Wednesday lower by (-0.11 point) point or (-0.46%) from the previous closure passing the level 22.85 and heading to 24.50 resistance, comes after the price fell from this resistance facing 21.50 support level that the price was able to breach during last Friday trades.

The previous rise showed the breaching of a bearish channel the price moved within its range during the previous medium and long trades, as the price confirmed that breach by holding above 19.10 level, to hit 22.85 as the target of that broken channel.

Generally; the stability above 22.85 resistance pushed the price ahead 24.50 resistance level, as if the price was able to pass this resistance the price will target the next resistance level 25.80, but the continuation of holding below 25.80 level may push the price to retest the supports 22.85 again.