Samsung could be in trouble as both the tech giant and investors are expecting a 25% loss in profits for Q3.

Samsung is expected to see a loss of around 25% in profits for the third quarter as the preliminary results are due Friday. The stock is currently trading at $991.30 with a support level of $968.32 (23.6% fib level). A break below this support could see the share price of Samsung slide towards the major support level at $901.40 (0% fib). Towards the upside, the first barrier of resistance sits at the 38.2% Fibonacci retracement or £1009.73. A break above this point may result in a further uptrend towards the next resistance level at £1043.20 (50% fib). Looking at the indicators, MACD is positive and so is RSI as it reads 58, overall suggesting a bullish approach. However, Samsungs expected losses might only be their first in nearly three years, but they are big losses. Hence investors must be cautious and keep an eye on the preliminary results.