Apple declines - Analysis - 15-11-2018

Apple's stock dipped in the intraday levels, breaching the support of 187.84, which represents the ratio 50% of Fibonacci retracement levels for an ascending wave in the medium term (from 142.21 to 233.47), marking a final loss of 2.82%, or 5.43 points, with negative pressure from the 50-day SMA. 

Therefore we expect more losses for the stock, as long as it settles below 187.84, targeting the next support at 177.07, which represents the ratio 61.8% of the same retracement levels mentioned above. 

Expected trend for the stock: Bearish