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Apple resumes its rise and passes the resistance- analysis 02-08-2016
Apple shares ended trading on Monday higher by (1.84 point) or (1.77%) of the previous closure to pass the level 104.00 after passing the pivotal resistance 100.00 that curbed the previous rise, which pushed the price to retest the support of the SMAs 50 and 100 that coincided with testing 96.65 support, these supports pushed the price to face 104.00 resistance level as the (D) point for the shown above harmonic pattern concluding the month of July around this resistance.
This came after the price formation for a harmonic pattern that pushed the prices for a further rise during the previous short and medium trades, after the price was able to escape and pass 100.00 level in order to achieve the pattern’s condition, which pushed the price to target 104.00 resistance as the pattern’s completing level.
Generally; holding above 100.00 level cleared the way for the price to continue the rise that suppose to target the next resistance 108.15, but it the price needs to hold above 104.00 level, as if the price traded back below this level it will retest the pivotal level 100.00 again.
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The resistance level stops Google shares rise - analysis 02-08-2016
Google shares ended Monday’s trading higher by about (4.09 point) or (0.53%) from the previous closure to pass 739.00 level reaching 775.50 resistance, comes after passing the level 685.80, which the price reached after it succeeded to achieve the target of the harmonic pattern shown above, which pushed it to trade higher during the previous trades passing 719.00 and 724.00 levels, where the mentioned price represents the (B) point for the pattern, as the price was able to pass it, to reach the next resistance at 739.00 as the (D) point for the pattern.
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MoreIBM shares extending the sideway trades below the resistance - analysis 02-08-2016
IBM shares ended Monday’s trading higher by (0.83 point) or (0.52%) of the previous closure to return back to retest 162.15 resistance after trading above 152.48 level, after the support area between 145.70 and 144.00 levels curbed the pressure on the SMA 100 to push the price to rebound entering the resistance zone 152.48 again, comes after failing to pass 152.48 level after it rose during the previous short trades after facing the SMA 50, also comes after the sideways movement that started since the last rise, as the price got support from the SMA 50, comes after retesting the resistance represented by 152.48 level, which coincided with 61.8% correction level for the decline from 174.47 to 116.00.
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