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SMA providing support for JPMorgan shares - analysis 02-08-2016
JPMorgan shares ended the trades on Friday lower by (-0.17 point) or (-0.27%) of the previous closure to hold above 63.60 resistance and the support of SMA 50, comes after the prices was able to achieve the broken channel target at 57.04 level and then to rebound above 58.60 level again to pass 61.56 resistance.
comes after a bullish movement that haunted the channel support that the price moved within its range previously to fall passing 58.60 level during the yesterday trades, comes after the shares was able to breach the bullish channel support and after the price returned to fall previously passing the level 61.65 that represents 61.8% correction level for the previous decline to face the support level 60.80 represented by 50% correction level, showing the formation of a bullish channel during the previous medium trades.
Generally; the continuation of the current rise requires the stability above 63.60 which will push the price ahead the next resistance 65.58 that coincides with 76.4% correction level for the same decline, but the stability of the current resistance may push down the price to retest 61.56 support.
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McDonalds approaching the support zone – analysis 02-08-2016
McDonald's shares ended Monday trades higher by (0.36 point) or (0.31%) of the previous closure trying to fall again below 120.35 level ahead the next support 116.00, comes after trading above 120.35 level resistance as the lowest level recorded the week before and reaching below 124.80, coinciding with engaging SMAs 50 and 100, where this rebound came after reaching the support zone between 116.00 and 112.90, after its sideway trades below 124.80 resistance level, after passing the level 124.80, as this level contributed the bullish direction for the previous medium and long trades, also coincides with breaching the channel’s support shown above during the current trades, comes after the price formed a support at 116.00 level, with the continuous support from the SMA 50 and 100.
MoreNetflix shares resist SMAs and rise - analysis 02-08-2016
Netflix shares ended Monday trades higher by (3.12 point) or (3.42%) of the previous after facing 88.00 support level which the price was able to adjust it to 84.85 below SMAs 50 and 100 and below the resistance 95.50 after rebounding from 88.00 support, comes after a bullish trails ahead the resistance 103.80 as the highest recorded level during the previous trades.
MoreThe support level curbs Nike shares decline – analysis 02-08-2016
Nike shares ended Monday trades slightly lower (-0.09 point) or (-0.16%) of the previous closure passing 56.90 level to face the support level 55.50 support, comes after it fell reaching the support 51.40 that coincided with the channel support, as the price moved within a bearish channel during the previous trades.
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