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The resistance pushes IBM shares to decline - analysis 01-08-2016
IBM shares ended Friday’s trading lower by (-0.75 point) or (0.46%) of the previous closure to return back to retest 162.15 resistance after trading above 152.48 level, after the support area between 145.70 and 144.00 levels curbed the pressure on the SMA 100 to push the price to rebound entering the resistance zone 152.48 again, comes after failing to pass 152.48 level after it rose during the previous short trades after facing the SMA 50, also comes after the sideways movement that started since the last rise, as the price got support from the SMA 50, comes after retesting the resistance represented by 152.48 level, which coincided with 61.8% correction level for the decline from 174.47 to 116.00.
The price failed to hold above the mentioned resistance level to fall trying to pass the support level 145.70, which caused the failure of the bullish scenario and brought back the bearish movement that reached the mentioned support area.
Generally; the continuation of the current bullish movement requires the stability above 162.15 resistance, but stability below 162.15 will push the price to the bearish movements during the short periods in order to rested 152.48 .
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SMAs’ push up General Motors shares - analysis 01-08-2016
GENERALMTRS shares ended Friday’s trading strongly higher by (1.55 point) or (1.77%) 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.
MoreGoogle shares flying to the next resistance - analysis 01-08-2016
Google shares ended Friday’s trading strongly higher by about (22.88 point) or (3.07%) from the previous closure to pass 739.00 level reaching 775.50 resistance, comes after passing the level 685.80, which the price reached after it succeeded to achieve the target of the harmonic pattern shown above, which pushed it to trade higher during the previous trades passing 719.00 and 724.00 levels, where the mentioned price represents the (B) point for the pattern, as the price was able to pass it, to reach the next resistance at 739.00 as the (D) point for the pattern.
MoreGeneral 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.
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