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$10.00 (-2.72%)

Volume: 7M

Closed: Dec 03, 2021

Hollow Logo Score: -1.375

Ericsson Stock Forecast

$10.00 (-2.72%)

Volume: 7M

Closed: Dec 03, 2021

Score Hollow Logo -1.375
Which way will ERIC go? Request
Key Stats
Beta 0.68
Trailing Dividend Rate 2.3% ($0.23)
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 75 ] RSI14 is 32 and the stock is currently not being overbought or oversold

Ericsson stock downgraded to Sell Candidate
(Updated on Dec 03, 2021)


Sell candidate since 2021-12-03

The Ericsson stock price fell by -2.72% on the last day (Friday, 3rd Dec 2021) from $10.28 to $10.00. During the day the stock fluctuated 2.01% from a day low at $9.93 to a day high of $10.13. The price has been going up and down for this period, and there has been a -8.76% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 million shares and in total, 7 million shares were bought and sold for approximately $74.03 million.

The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $9.93 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -11.02% during the next 3 months and, with a 90% probability hold a price between $8.84 and $10.19 at the end of this 3-month period.

Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, November 30, 2021, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Ericsson stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $10.17 and $10.92. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.20 between high and low, or 2.01%. For the last week, the stock has had a daily average volatility of 2.14%.

Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.

Is Ericsson stock A Buy?

Ericsson holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.375

Predicted Opening Price for Ericsson of Monday, December 6, 2021

The predicted opening price is based on yesterday's movements between high, low, and the closing price.

Fair opening price December 6, 2021 Current price
$10.02 $10.00 (Undervalued)
Sell Candidate Downgraded

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Analyst Ratings

On Oct 25, 2021 "Bank of America" gave "" rating for ERIC. The price target was changed from $11.17 to 3.5%.

Volatility and Risk
Daily Average Volatility: 2.14 %
Overall Risk: Very High High Medium Low Very Low
Volatility
2.14 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $10.31
Price: $10.00
No Support Found

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 10.22 2.20 %
10.14 1.44 %
10.10 0.96 %
Current price: 10.00
Support 9.94 -0.56 %
9.90 -1.04 %
9.82 -1.80 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 11.61 16.10 %
11.04 10.40 %
10.31 3.10 %
Current price 10.00
Support 0 .
0 .
0 .

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About Ericsson

Ericsson Telefonaktiebolaget LM Ericsson (publ) provides network equipment and software, and services for network and business operations worldwide. Its Networks segment delivers products and solutions for mobile access, Internet protocol (IP) and transmission networks, core networks, and cloud. This segment offers radio access solutions; IP routing and transport solutions; microwave and optical transmission solutions for mobile and fixed networks; IP mul... Read more

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