The company is expected to report its net earnings and revenue streams for the second fiscal quarter of 2019 on Tuesday after market hours.
Market experts and other financial analysts forecast the announcement of earnings per share equal to $2.1, which would be less than the $2.34 EPS that were reported for the same quarter last year and also less than the previously reported earnings of $2.46 for Q1 of this year.
The stock price closed at 207.75 at the end of last Friday’s trading session after it reverted itself below the 208.70 resistance level, and has since then formed a narrow consolidation range just below that level in anticipation of heightened volatility after the release of the earnings report tomorrow.
If the report demonstrates some disappointing numbers or reveals an unexpected turn of events in the company’s overall performance, the price might tumble below the lower-support of the recent bullish channel, that is outlined in the chart below.