The semiconductor giant has seen its price move sideways since March, perhaps its earnings will be a new catalyst

Taking a look at ASML Holding ahead of its earnings tomorrow. Currently, the semiconductor giant’s stock is trading at around $954.33 a share. Looking at the daily chart, we can see it has been moving sideways since the beginning of March, which is highlighted by the orange channel. The resistance here is around $1005.60 with clear support at $927.94. A break and close above the resistance level maybe could lead to a push toward the all-time high of $1056.03. On the other hand, a break below the support along the lower trendline of the channel may see the price slide lower into the red channel. The red channel also provides important support at two different points, first at $892.63 and then at $889.37. From a technical aspect, the technical indicators are fairly neutral. The MACD is negative but with a low volume whereas the RSI is in a neutral stance as it reads 47.