ERICSSON (LM) TEL-SP ADR (ERIC) Stock Technical Analysis
USA - NASDAQ:ERIC - US2948216088 - ADR
We assign a technical rating of 9 out of 10 to ERIC. 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.
Although ERIC has an excellent technical rating, it does not present a decent entry opportunity at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
7.39
6 important support areas can be observed.
- Support @9.81 from a trend line in the daily time frame.
- A support zone ranging from 9.42 to 9.44. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 8.41 to 8.49. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @8.21 from a horizontal line in the daily time frame.
- Support @7.70 from a trend line in the weekly time frame.
- Support @7.46 from a trend line in the weekly 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 | 85.48 | POSITIVE | ERIC has a high relative strength, it outperformed 85.48% 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) | 75.92 | OVERBOUGHT | The high RSI value suggests ERIC may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.06 | POSITIVE | The MACD value suggests ERIC has a positive trend. |
| Stochastics (14,3) | 90.2 | OVERBOUGHT | The high Stochastics value suggests ERIC may be overbought. |
| Average True Range in percent/ATR (20) | 2.99 | MEDIUM VOLATILITY | The ATR as a percentage value for ERIC suggests some volalility. |
| Average Directional Index/ADX (14) | 41.77 | POSITIVE | The high ADX value value for ERIC suggests a strong trend. |
10.14
+0.04 (+0.4%)
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 75.9185. This indicates that the stock is currently overbought.
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 9.81. Check the full technical report for our detailed analysis of ERIC support and resistance levels.