Alphabet driven lower by current resistance - Analysis - 18-10-2018

Alphabet's stock dipped 0.50% in the last session, or 5.59 points, after the resistance of 1129.07 held on, representing the ratio 38.2% 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, countered with positive signals from the RSI. 

Therefore we expect more losses for the stock, as long as the resistance of 1129.07 holds on, targeting the support of 1084.34, which represents the ratio 50% of the same retracement levels. 

Expected trend for today: Bearish