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$7.64 (-0.39%)

Volume: 2.671M

Closed: Aug 05, 2022

Hollow Logo Score: 0.132

Ericsson Stock Forecast

BUY NASDAQ:ERIC
$7.64 (-0.39%)

Volume: 2.671M

Closed: Aug 05, 2022

Score Hollow Logo 0.132
Which way will ERIC go? Request
Fri, Aug 05, 2022 Hold/Accumulate
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSI min/max Values: [ 25 - 75 ] RSI14 is 71 and the stock is currently not being overbought or oversold
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Ericsson stock downgraded to Hold/Accumulate
(Updated on Aug 05, 2022)


Buy or Hold candidate since 2022-07-29 Gain 1.33% PDF

The Ericsson stock price fell by -0.39% on the last day (Friday, 5th Aug 2022) from $7.67 to $7.64. During the last trading day the stock fluctuated 1.26% from a day low at $7.56 to a day high of $7.66. The price has been going up and down for this period, and there has been a 4.23% gain 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 -245 thousand shares and in total, 3 million shares were bought and sold for approximately $20.41 million.

The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $7.66 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -7.25% during the next 3 months and, with a 90% probability hold a price between $6.16 and $7.10 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

Signals & Forecast

The Ericsson stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $7.55 and $7.45. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, August 04, 2022, and so far it has fallen -0.39%. Further fall is indicated until a new bottom pivot has been found. 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

Ericsson finds support from accumulated volume at $7.46 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $0.0950 between high and low, or 1.26%. For the last week, the stock has had a daily average volatility of 1.29%.

Our recommended stop-loss: $7.36 (-3.73%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 days ago.)

Trading Expectations For The Upcoming Trading Day Of Monday 8th

For the upcoming trading day on Monday 8th we expect Ericsson to open at $7.62, and during day (based on 14 day Average True Range), to move between $7.47 and $7.81, which gives a possible trading interval of +/-$0.17 (+/-2.27%) up or down from last closing price. If Ericsson takes out the full calculated possible swing range there will be an estimated 4.53% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $7.65 (0.13%) than the support at $7.46 (2.36%), our systems don't find the trading risk/reward intra-day attractive and any bets should be hold until the stock is closer to the support level.

Is Ericsson stock A Buy?

Ericsson holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.132

Hold/Accumulate Downgraded

Predicted Opening Price for Ericsson of Monday, August 8, 2022

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

Fair opening price August 8, 2022 Current price
$7.62 $7.64 (Overvalued)

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Fibonacci Support & Resistance Levels

Level Price Change
Resistance 7.71 0.96 %
7.68 0.48 %
7.65 0.19 %
Current price: 7.64
Support 7.58 -0.76 %
7.56 -1.05 %
7.52 -1.53 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 8.05 5.37 %
7.98 4.45 %
7.65 0.13 %
Current price 7.64
Support 7.46 -2.36%
7.43 -2.75%
7.34 -3.93%

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About Ericsson

Ericsson Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides communication infrastructure, services, and software solutions to the telecom and other sectors. It operates through four segments: Networks, Digital Services, Managed Services, and Emerging Business and Other. The Networks segment offers radio access network solutions for various network spectrum bands, including integrated high-performing hardware and software. Thi... Read more

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