After three days of going down, Qualcomm is flat today, hovering around $123.77

Qualcomm trades at $123.77, after ending yesterday at $123.7.

United States FOMC Meeting Minutes is next.

Qualcomm's state is reflected by market data as United States Existing Home Sales (Jan) came out at 4 million, while a consensus of analysts was expecting 4 million. United States 2-Year Note Auction released yesterday at 18:00 UTC with a figure of 4.673, while the previous figure was 4.139. United States Existing Home Sales released earlier showed a marked improvement to -0.7% from the preceding data of -2.2%, but fell short of the 2% figure forecast by a consensus of market analysts.

With regards to technical trend indicators, chart analysis show that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Asset volatility analysis shows that Qualcomm's upper Bollinger Band® is at $139.08 and the lower is $124.43.

The current technical outlook indicates Qualcomm will continue to ebb sideways within tight ranges for the immediate future.

Meanwhile, mixed performances are seen in other technology stocks as after closing the previous session (yesterday) at $49.69, Cisco Systems lost 65 cents and is trading around $49.04. Adobe gained 1.15%, currently at $350.68. Intuit is up 0.97%.

Moreover, tomorrow at 16:00 UTC data for United States Crude Oil Inventories will be released, with an expected decline to 1.17 million from the preceding figure of 16.28 million. As things stand, upcoming United States Initial Jobless Claims data is projected to fall short of market expectations with newly published data of 200,000, following on from the preceding figure of 194,000. New data is set to be published tomorrow at 13:30 UTC. United States GDP figure is projected at 2.9. It previously stood at 2.9; data will be released tomorrow at 13:30 UTC.

This year has been a bright one for the wireless technology company after trading as low as $103.88 and going on to appreciate by 15.39% year to date.