Citigroup approaching the support again - analysis 01-08-2016

Cisco shares ended Friday’s trading slightly higher by (0.01 point) or (0.03%) 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.

Bank of America shares ended the trades on last Friday lower by (-0.19 point) or (-1.29%) 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.

Apple shares ended trading on last Friday slightly lower by (-0.13 point) or (-0.12%) of the previous closure after facing 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 thnis resistance.