Apple tries to regain footing - Analysis - 12-04-2019

Apple's stock settled above the support of 198.52, representing the ratio 61.8% of Fibonacci retracement levels for a descending wave in the short term (from 233.47 to 142.00), scoring a profit of 0.25%, with positive pressure from the 50-day SMA, coupled with positive signals from the RSI. 

Therefore we expect more gains for the stock as long as it settles above 198.53, targeting the resistance of 211.88, representing the ratio 76.4% of the same retracement levels. 

Expected trend for today: Bullish