ERICSSON (LM) TEL-SP ADR (ERIC) Technical Analysis
NASDAQ:ERIC • US2948216088
Current stock price
ERIC Technical Rating and Analysis
Taking everything into account, ERIC scores 4 out of 10 in our technical rating. In the last year, ERIC was a medium performer in the overall market. The medium term is still looking fine, but we see some doubts in the very recent evolution.
- In the last month ERIC has a been trading in the 10.98 - 12.19 range, which is quite wide. It is currently trading near the lows of this range.
- Prices have been falling strongly lately, it is better to avoid new long positions here.
- ERIC is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so ERIC is lagging the market slightly.
- ERIC has an average volume of 10117600 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- The short term trend is negative, but the long term trend is still positive. So although the long term is still positive, this may be a trend turning.
- Looking at the yearly performance, ERIC did better than 74% of all other stocks. However, this overall performance is mostly based on the strong move around 7 months ago.
- ERIC is an average performer in the Communications Equipment industry, it outperforms 46% of 46 stocks in the same industry.
ERIC Weekly and Daily overview Charts
ERIC Setup Rating and Analysis
ERIC has only a medium technical rating, but it does show a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a support zone below the current price at 11.05, a Stop Loss order could be placed below this zone.
More info and screens
ERIC Support and Resistance Analysis
9.34
We found 3 important support areas.
- A support zone ranging from 11.02 to 11.05. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 10.67 to 10.79. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @9.43 from a horizontal line in the daily time frame.
We can see 4 important resistance areas.
- A resistance zone ranging from 11.11 to 11.12. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 11.45 to 11.60. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A resistance zone ranging from 11.89 to 11.97. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @12.17 from a horizontal line in the daily time frame.
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 | DOWN | NEGATIVE | The short term trend for ERIC is down. |
| ChartMill Relative Strength | 74.09 | POSITIVE | ERIC has a high relative strength, it outperformed 74.09% 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 | 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) | 41 | NEUTRAL | The RSI value for ERIC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.09 | NEGATIVE | The MACD value suggests ERIC has a negative trend. |
| Stochastics (14,3) | 10.47 | OVERSOLD | The low Stochastics value suggests ERIC may be oversold. |
| Average True Range in percent/ATR (20) | 3.16 | MEDIUM VOLATILITY | The ATR as a percentage value for ERIC suggests some volalility. |
| Average Directional Index/ADX (14) | 18.99 | NEGATIVE | The low ADX value for ERIC suggests a weak or negative trend. |
ERIC Chart- and CandleStick Pattern Analysis
ERIC Technicals: Chart, Performance Metrics, Trend & Indicators
11.06
-0.21 (-1.86%)
ERICSSON (LM) TEL-SP ADR / ERIC TA FAQ
What is the technical rating for ERIC stock?
ChartMill assigns a technical rating of 4 / 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.
Can you provide the RSI signal for ERICSSON (LM) TEL-SP ADR?
ERICSSON (LM) TEL-SP ADR (ERIC) has an RSI value of 40.9955. This indicates that the stock is currently neutral.
Can you provide the buy/sell signal for ERICSSON (LM) TEL-SP ADR?
The buy/sell signal for ERICSSON (LM) TEL-SP ADR (ERIC) is hold as the short term and long term trends are mixed.
What are the support and resistance levels for ERICSSON (LM) TEL-SP ADR (ERIC) stock?
ERICSSON (LM) TEL-SP ADR (ERIC) has a support level at 11.05 and a resistance level at 11.11. Check the full technical report for our detailed analysis of ERIC support and resistance levels.