Estee Lauder’s stock price is now down 74% from peak to trough since January 2022. With the shares currently trading at around $95.15 a share, the stock has failed to end its bearish trend with investors now hoping to see some changes in the upcoming earnings report. The new support here for the near term is the most recent low of $86.05, a break below here following the earnings report may spark a sell-off towards the lows of January 2017, or respectively, $76-$80. Towards the upside, a move back above $102 (most recent key support level) could fuel some optimism for a potential rally in the direction of the trendline resistance. Trendline resistance reads between $120-$125, based on the current price level of the company’s shares without anticipating any drastic moves. A strong move above here would possibly be the catalyst for a consolidation phase, inviting buyers for an extension towards $140-$150 (highs of 2024). Looking at the technical indicators, the RSI is pointing to oversold conditions. With a current reading of 30 after recording a low of 23, the likelihood of a short-term bounce has now increased, especially after comparing this to a similar scenario back in October of last year when the RSI recorded a level of 20. Interestingly, the MACD indicator also suggests a possible bullish divergence as the price has made a lower low but the indicator is potentially in the process of forming a higher low.