Overall ERIC gets a technical rating of 9 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, ERIC is showing a nice and steady performance.
ERIC has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a support zone below the current price at 9.54, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
7.50
When analyzing the support we can see 6 important areas.
- A support zone ranging from 9.26 to 9.54. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @9.03 from a trend line in the daily time frame.
- Support @8.25 from a horizontal line in the daily time frame.
- Support @7.94 from a trend line in the weekly time frame.
- Support @7.75 from a trend line in the daily time frame.
- Support @7.58 from a trend line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 9.54 to 9.68. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
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 | 83.55 | POSITIVE | ERIC has a high relative strength, it outperformed 83.55% 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 | MIXED | The current price of ERIC is below 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) | 49.4 | NEUTRAL | The RSI value for ERIC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests ERIC has a negative trend. |
| Stochastics (14,3) | 32.44 | NEUTRAL | The Stochastics value for ERIC is a neutral value. |
| Average True Range in percent/ATR (20) | 1.52 | LOW VOLATILITY | The low ATR as a percentage value for ERIC suggests low volalility. |
| Average Directional Index/ADX (14) | 18.58 | NEGATIVE | The low ADX value for ERIC suggests a weak or negative 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 |
|---|---|---|---|
| 9.69 | 9.48 | 0.21 (2.17%) | 25.00% |
| An entry @9.69. This is a Buy Stop order right above the resistance zone. | An exit @9.48. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 0.21 points, which is 2.17%. | For a 0.54% 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.
9.54
-0.08 (-0.83%)
ERICSSON (LM) TEL-SP ADR / ERIC FAQ
What is the technical rating for ERIC stock?
ChartMill assigns a technical rating of 9 / 10 to ERIC.
Can you provide the trend direction for ERICSSON (LM) TEL-SP ADR?
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 49.3986. This indicates that the stock is currently neutral.
What is the short term momentum for ERIC stock?
The short term momentum for ERICSSON (LM) TEL-SP ADR (ERIC) is positive.
What is the support and resistance level for ERIC stock?
ERICSSON (LM) TEL-SP ADR (ERIC) has a support level at 9.54 and a resistance level at 9.54. Check the full technical report for our detailed analysis of ERIC support and resistance levels.