Toyota is set to report its quarterly earnings today. Indicators are positive but heading in the negative direction, a pivot could occur if support holds.

The automaker Toyota is expected to report its quarterly earnings today. From a technical outlook, the stock's shares are currently trading at ¥2,016 a share. Towards the downside, support sits at ¥2,006 (corresponds with the lower trendline of the ascending triangle), then at ¥1,993 then at ¥1,979. A break below these support levels could see the stock tumble towards the lows of September month (¥1,870-¥1,950). On the other hand, if the support holds then the stock may pivot towards the upside. On the upside, resistance sits at ¥2,031 then at ¥2,058 then at ¥2,071. A break above the ¥2,071 resistance may see the share price hike towards the key resistance point at ¥2,089 (upper trendline of the triangle). Looking at the technical indicators, MACD is positive but heading in the negative direction and so is RSI as it currently reads 49.