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General Electric tries to pass the support - analysis 01-08-2016
General electric shares ended Friday’s trading lower by (-0.11 point) or (-0.35%) of the previous closure as it ended the trades of the week before with a bearish gab around the level 31.70 to trade facing 31.20 during the end of last week trades.
Comes after passing several levels after failing to trade below 29.40 level which pushed the price previously to trade above 29.81 pivotal level.
Generally; the price abandon the positive momentum to drop with the start of Friday’s trade, to fall during the current week reaching 31.20 support so far, as the continuation of the current decline requires the stability below this level 31.20 to target the next support 30.95 and may extend to 30.55, but holding above 31.20 support may push the price to rise in order to retest the nearest resistance such as 31.70 and may reach 32.05.
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Citigroup approaching the support again - analysis 01-08-2016
CITIGROUP shares ended Friday’s trading lower by (-0.27 point) or (-0.61%) of the previous closure, after rebounding from 38.30 support to reach 44.44 resistance, which the price reached during the previous trades after it was able to escape 43.55 level.
MoreCisco shares awaiting SMAs’ support - 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.
MoreBank of America re-tests the support - analysis 01-08-2016
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.
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