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Bank of America is waiting the SMAs’ support - analysis 02-08-2016
Bank of America shares ended the trades on Monday lower by (-0.11 point) or (-1.1%) from the previous closure to pass 14.41 level that coincided with 38.2% correction level for the bearish wave from 17.28 to 10.99, comes after a bullish rebound that passed the level 13.40 passing SMAs 50 and 100.
The previous bullish movement came after the stability of the price above the support of the SMAs 50 & 100 with the stability above 14.41 level, which pushed the price to target the resistance level 14.88 represented by 61.8% correction level for the same decline.
Generally; the continuation of the current rise requires the stability above 14.41 resistance to target then the next one 14.88, but the stability of 14.41 will push down the price to retest 13.40 support.
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General Motors starts the week with negative trades - analysis 02-08-2016
GENERALMTRS shares ended Monday’s trading lower by (-0.24 point) or (-0.76%) of the previous closure, where the price previously opened the trades around 30.20 support level that coincided with the support of SMAs 50 and 100, comes after the price was able to avoid 32.35 resistance up from 30.20 level as a confirmation for breaking the bearish pace after passing 29.10 level with the bearish channel top board with SMA 100, after the previous decline that pushed the price to try passing the channel’s support shown above, comes after it rose approaching the resistance barrier of 30.20 that coincided with the SMAs 50 and 100 , comes after it rose during the previous short trades to pass 29.10 resistance, which showed the price movement within a bearish channel the price is approaching its top board now, comes after the price retested the resistance level 33.00 and to fall retesting 30.20 support level which coincided with retesting the channel’s support shown above, to succeed passing this board using the pressure of the SMA 50 and 100 then.
MoreCisco responds to the SMA support and rise - analysis 02-08-2016
Cisco shares ended Monday’s trading higher by (0.20 point) or (0.66%) of the previous closure trying to inspect 31.20 resistance after trading above 30.50 level, comes after it was able to adjust the support level to 27.15 and then to rebound passing the SMAs 50 and 100 and the resistance level 28.65 to trade currently above 29.40 level, also after facing the level 29.40 as the highest recorded price during the previous trades after the fluctuation between this level and the support level of 28.65, as the price fell previously to retest 27.15 level.
MoreApple 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.
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