Expected to report an EPS of $1.91 on revenue of $8.51bn

Looking at QUALCOMM’s stock, it has been rather rangebound since pretty much the same time last year. Currently trading at around $108.23 a share, we can see that the support base sits at $101.94 and has been tested previously demonstrating robustness. Since the beginning of September QC’s price has been rangebound between $103-$117, perhaps the stock is awaiting the quarterly earnings before any clear movement. The key level for investors here is $117.07 (yellow-dotted), a break above it could provide the momentum boost for a move towards the upper half of the channel on the chart (green trendline). A break above the green trendline may begin a trend with the purpose of pushing higher to the levels seen before 2022. In contrast, a negative report followed by a sell-off may be too overpowering for the support base and see a break below. In that scenario, bears would start eyeing up the $90 mark. Heading over to the technical indicators, they are somewhat flat. The MACD is slightly negative but the volume is low and the RSI has just entered a neutral stance as it reads 45.