Qualcomm currently down 1.02% halfway through today

The wireless technology company slides down from $116.11 to $114.93, losing $1.18 (1.02%).

United States FOMC Statement is next today at 18:00 UTC.

United States Crude Oil Inventories released earlier showed a marked improvement to -1.28 million from the preceding data of -5 million, but fell short of the -1.1 million figure forecast by a consensus of market analysts.

Meanwhile, United States ISM Non-Manufacturing PMI (Apr) released today at 14:00 UTC with a figure of 51.9, while the previous figure was 51.2. United States Services PMI came out at 53.6, while a consensus of analysts was expecting 53.7.

Trend-focused traders would be interested to note that Qualcomm made an initial break below its 10 day Simple Moving Average at $116.32, a possible indication of a forthcoming negative trend. Asset volatility analysis shows that Bollinger Bands® shows an indication of recovery: the lower band is at $112.18, a low enough level to, generally, suggest that Qualcomm is trading below its fair value. Chart analysis indicates Qualcomm pushed below the $114.68 support level and extended 25 cents beyond it.

With market volatility ebbing, the current technical outlook indicates Qualcomm will remain range-bound for the immediate future.

Qualcomm's stock value drop coincides with AMD is down 8.9% from the beginning of the session and now trades around $81.91. Adobe is down 4% from the beginning of the session and now trades around $353.87.

Positive performances can be seen by looking at other technology stocks as Intel is trading at $30.54 after ending yesterday's session at $29.77 (up 2.59%).

With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as projections for United States Initial Jobless Claims are set for a continuation of decline with 240,000 while previous data was 230,000; data will be released tomorrow at 12:30 UTC.

Furthermore, United States Interest Rate is expected today at 18:00 UTC. United States FOMC Statement is scheduled for today at 18:00 UTC.

Pointing downwards for around a month. The 5G mobile wireless technology developer has shed 14.53% over the past three months.