ERICSSON (LM) TEL-SP ADR (ERIC) Stock Technical Analysis
NASDAQ:ERIC • US2948216088
We assign a technical rating of 10 out of 10 to ERIC. Both in the recent history as in the last year, ERIC has proven to be a steady performer, scoring decent points in every aspect analyzed.
- The long and short term trends are both positive. This is looking good!
- When comparing the yearly performance of all stocks, we notice that ERIC is one of the better performing stocks in the market, outperforming 85% of all stocks. On top of that, ERIC also shows a nice and consistent pattern of rising prices.
- ERIC is part of the Communications Equipment industry. There are 48 other stocks in this industry. ERIC outperforms 70% of them.
- A new 52 week high is currently being made by ERIC, which is a very good signal! However, this is in line with the S&P500, which is also trading near new highs.
- In the last month ERIC has a been trading in the 10.31 - 11.38 range, which is quite wide. It is currently trading near the high of this range.
- ERIC has an average volume of 8943490 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Besides having an excellent technical rating, ERIC also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 11.34. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 11.18, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for ERIC in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
More info and screens
8.18
When analyzing the support we can see 4 important areas.
- A support zone ranging from 10.96 to 11.18. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 9.83 to 9.89. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 9.40 to 9.43. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @8.26 from a trend line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 11.34 to 11.34. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for ERIC is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for ERIC is up. |
| ChartMill Relative Strength | 85.46 | POSITIVE | ERIC has a high relative strength, it outperformed 85.46% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of ERIC is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of ERIC is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of ERIC is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 68.34 | NEUTRAL | The RSI value for ERIC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.02 | NEGATIVE | The MACD value suggests ERIC has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 79.37 | NEUTRAL | The Stochastics value for ERIC is a neutral value. |
| Average True Range in percent/ATR (20) | 2.4 | MEDIUM VOLATILITY | The ATR as a percentage value for ERIC suggests some volalility. |
| Average Directional Index/ADX (14) | 31.78 | POSITIVE | The high ADX value value for ERIC suggests a strong trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 11.35 | 10.95 | 0.40 (3.52%) | 25.00% |
| An entry @11.35. This is a Buy Stop order right above the resistance zone. | An exit @10.95. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 0.40 points, which is 3.52%. | For a 0.88% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
11.33
+0.08 (+0.71%)
ERICSSON (LM) TEL-SP ADR / ERIC FAQ
What is the technical rating for ERIC stock?
ChartMill assigns a technical rating of 10 / 10 to ERIC.
What is the current trend direction of ERICSSON (LM) TEL-SP ADR (ERIC) stock?
The current trend direction for ERICSSON (LM) TEL-SP ADR (ERIC) is Bullish.
What is the RSI signal for ERICSSON (LM) TEL-SP ADR (ERIC) stock?
ERICSSON (LM) TEL-SP ADR (ERIC) has an RSI value of 68.337. This indicates that the stock is currently neutral.
What is the MACD signal for ERICSSON (LM) TEL-SP ADR (ERIC) stock?
The MACD indicator for ERICSSON (LM) TEL-SP ADR (ERIC) has a value of -0.018721, indicating a bearish trend.
What is the buy/sell signal for ERIC stock?
The buy/sell signal for ERICSSON (LM) TEL-SP ADR (ERIC) is buy as both the short term and long term trends are positive.