Symantec without real change around the SMA– analysis 21-10-2016

Symantec Corp ended trades on Thursday slightly lower by (-0.03 point) or (-0.12 %) of the previous closure, trading around the level 24.50 support, after falling from 25.40 resistance that the price adjusted form 25.80 after the bullish movement during the previous medium and long trades.

The previous slight rise was supported by the SMA 100 in addition to the price response for the oversold sings shown by the stochastic indicator, which consider as a positive signal that may bring back the bullish movement for the price to try to pass the resistance level 25.40.

Generally; if the price remained holding below 24.50 level will increase the negative pressure on the price to push it ahead 22.85 support level, but holding above 24.50 level will push up the price again to try to pass 25.40 resistance.