Nike decline caused the failure of the head and shoulders pattern – analysis – 02/05/2016
Nike shares movements closed higher by the end of Friday trades by (0.40) points or(0.68 %) from the previous close, within the price retesting the top board for the broken bearish channel where the price failed during the previous trades to breach 57.95 level, which represents the start of the rising movement from 57.95 to 65.42, to rise trading around the top board for the mentioned channel and traded around 59.50 level, which consider the second positive signal for an upcoming bullish wave, as the price during the previous trades tried to form a reversing head and shoulders pattern for the previous bearish trades for the medium terms; which failed by retesting again 57.95 during the current trades, also it is noticed the price formation for a short bearish channel that supports the price decline.
It is advised to wait for the confirmation signal to start the next climb by the stability of the price movement of above the level of 59.50, which would target the next resistance level of 61.20.
Pfizer fails to continue the rise - analysis - 02/05/2016
PFIZER shares was able to close lower by the end of last week trades by -0.20)) point or about (0.61-%), as the price was able to form a rising flag pattern which indicate an upcoming bullish movement after holding above 33.05 resistance, comes after achieving the previous expected target for passing the top board for a bearish channel the price was able to form during the past medium and long periods, and the bearish bat harmonic pattern, as 30.90 level represents the (B) point for this pattern and the point (C) represented by 28.75 support level, as the price succeeded to pass 30.90 resistance and the resistance level 32.15 that represents the channels’ target, then 33.05 that represents the (D) point for the pattern, which coincided with 61.8% correction level for the decline from 36.04 to 28.26.
The continuous of the previous rising requires the stability above the 33.05 resistance, which will lead the price to target higher resistances.
McDonalds shares under the support’s pressure – analysis - 02/05/2016
McDonald's shares ended Friday trades lower by (-1.43) or 1.12 %)-( from the previous closure after passing the level 124.80, as this level contributed the bullish direction for the current medium and long trades, comes after the price formed a support at 116.00 level, with the continuous support from the SMA 50 and 100.
The bullish movement requires the price stability above 124.80 level, as holding below this level will push the price for the decline trying to retest the support level of 116.00 again, but the continuous holding above 124.80 will push the price ahead 123.50 resistance.
Netflix trades above the support - 02/05/2016 analysis
Netflix shares closed lower by the end of last week trades on Friday with (-0.25 points or (-0.28 %) from the previous closure, pushing the price to trade below the channel’s support, which the price moved within its range previously, causing the price decline passing the level 95.50, which the price trades below it now.
The preaching of the channel’s support pushed expectations for a further decline during the trades to target 88.00 support that represents the final target for the channel, which the price was able to achieve indeed, were the breaching of this level will drive the price for a further decline to target the next support at 80.00, but the failure of breaching the current support may push the price up to retest 95.50 resistance again.