Alphabet ends tentatively higher - Analysis - 22-10-2018

Alphabet's stock rose 0.68% in the last session, or 8.49 points, after the important support of 1084.34 held its ground, representing the ratio 50% of Fibonacci retracement levels for an ascending wave in the medium term (from 894.79 to 1273.89), with negative pressure from the 50-day SMA. 

Therefore we expect the stock to return lower, especially if the support of 1084.34 was breached, targeting the next one at 1039.61, representing the ratio 61.8% of the same retracement levels mentioned above. 

Expected trend for today: Likely Bearish