ERICSSON (LM) TEL-SP ADR (ERIC) Technical Analysis
NASDAQ:ERIC • US2948216088
Current stock price
ERIC Technical Rating and Analysis
We assign a technical rating of 9 out of 10 to ERIC. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.
- The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
- When comparing the yearly performance of all stocks, we notice that ERIC is one of the better performing stocks in the market, outperforming 87% of all stocks. We also observe that the gains produced by ERIC over the past year are nicely spread over this period.
- ERIC is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so ERIC is performing more or less in line with the market.
- ERIC has an average volume of 9900490 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- ERIC is part of the Communications Equipment industry. There are 48 other stocks in this industry, ERIC did better than 59% of them.
- In the last month ERIC has a been trading in the 10.82 - 12.12 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
ERIC Weekly and Daily overview Charts
ERIC Setup Rating and Analysis
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. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 11.13, a Stop Loss order could be placed below this zone.
More info and screens
ERIC Support and Resistance Analysis
9.31
3 important support areas can be observed.
- A support zone ranging from 11.06 to 11.13. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 10.30 to 10.34. 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.
We found 1 important resistance area.
- A resistance zone ranging from 11.43 to 11.61. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
ERIC Technical Indicator Signal Analysis
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 | NEUTRAL | NEUTRAL | The short term trend for ERIC is neutral. |
| ChartMill Relative Strength | 87.29 | POSITIVE | ERIC has a high relative strength, it outperformed 87.29% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of ERIC is below a declining 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) | 46.36 | NEUTRAL | The RSI value for ERIC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.06 | NEGATIVE | The MACD value suggests ERIC has a negative trend. |
| Stochastics (14,3) | 38.48 | NEUTRAL | The Stochastics value for ERIC is a neutral value. |
| Average True Range in percent/ATR (20) | 3.21 | MEDIUM VOLATILITY | The ATR as a percentage value for ERIC suggests some volalility. |
| Average Directional Index/ADX (14) | 14.63 | NEGATIVE | The low ADX value for ERIC suggests a weak or negative trend. |
ERIC Chart- and CandleStick Pattern Analysis
ERIC Example Setup
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 |
|---|---|---|---|
| 11.62 | 11.07 | 0.55 (4.73%) | 21.13% |
| An entry @11.62. This is a Buy Stop order right above the resistance zone. | An exit @11.07. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 0.55 points, which is 4.73%. | For a 1.00% total portfolio risk, you can invest 21.13% 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.
ERIC Technicals: Chart, Performance Metrics, Trend & Indicators
11.14
-0.3 (-2.62%)
ERICSSON (LM) TEL-SP ADR / ERIC TA FAQ
What is the technical rating for ERIC stock?
ChartMill assigns a technical rating of 9 / 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 46.3557. 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 -0.0588022, indicating a bearish trend.