Apple is down 2.3% in pre-market, now approaching a key level of $187.45

Taking a look at Apple as it is down 2.3% in pre-market trading. Currently, the tech giant’s shares are trading at around $188.09 a share. Apple’s share price has now been heading in the bearish direction since the 14^th of December, with the price now approaching a key support level on the daily interval. The support level in focus here is $187.45 (the lower trendline of the triangle drawn on the chart). A break and close below it could be a hint that January may not be a profit-gaining month for the bulls. This break would force the bulls to look for support around $184 and $182. Any consolidation along the trendline support would create an opportunity for a move towards the descending trendline of the triangle. At this moment in time, the resistance reads $191.11. However, until there are clear signs of consolidation the bias on Apple for the short-term remains bearish. Looking at the technical indicators, the MACD is negative with an enlarged volume. Additionally, the RSI is also negative as it now reads 40 and is on a decline.