Ericsson Stock Forecast
Red day on Thursday for Ericsson
(Updated on Apr 25, 2024)
The Ericsson stock price fell by -0.758% on the last day (Thursday, 25th Apr 2024) from $5.28 to $5.24. During the last trading day the stock fluctuated 1.74% from a day low at $5.18 to a day high of $5.27. The price has risen in 6 of the last 10 days and is up by 4.17% over the past 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 -7 million shares and in total, 15 million shares were bought and sold for approximately $78.11 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 $5.35 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 -7.10% during the next 3 months and, with a 90% probability hold a price between $4.40 and $4.97 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.
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ERIC Signals & Forecast
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. The Ericsson stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $5.33. On a fall, the stock will find some support from the short-term average at $5.18. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -2.24%. 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 for Ericsson stock
Ericsson finds support from accumulated volume at $5.06 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 $0.0900 between high and low, or 1.74%. For the last week, the stock has had daily average volatility of 2.28%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ERIC) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Ericsson to open at $5.23, and during the day (based on 14 day Average True Range), to move between $5.09 and $5.39, which gives a possible trading interval of +/-$0.151 (+/-2.88%) up or down from last closing price. If Ericsson takes out the full calculated possible swing range there will be an estimated 5.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.35 (2.10%) than the support at $5.06 (3.44%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Ericsson stock A Buy?
Ericsson holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.091 Sell Candidate Unchanged
Predicted Opening Price for Ericsson of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $5.23 ( 0.191%) | $5.24 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ERIC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.32 | 1.53 % | |
| R2 | 5.29 | 0.87 % | ||
| R1 | 5.26 | 0.465 % | ||
| Current price: | 5.24 | |||
| Support | S1 | 5.20 | -0.85 % | |
| S2 | 5.17 | -1.25 % | ||
| S3 | 5.14 | -1.91 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.51 | 5.15 % | |
| R2 | 5.43 | 3.63 % | ||
| R1 | 5.35 | 2.10 % | ||
| Current price | 5.24 | |||
| Support | S1 | 5.06 | -3.44% | |
| S2 | 4.88 | -6.87% | ||
| S3 | 4.79 | -8.59% |
ERIC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 23, 2024 | Apr 04, 2024 | Apr 04, 2024 | $0.129 | 2.50% |
| 2 | Sep 28, 2023 | Sep 28, 2023 | Oct 04, 2023 | $0.125 | 2.64% |
| 3 | Jan 20, 2023 | Mar 30, 2023 | Apr 14, 2023 | $0.132 | 2.21% |
| 4 | Sep 07, 2022 | Sep 29, 2022 | Sep 30, 2022 | $0.116 | 2.02% |
| 5 | Jan 27, 2022 | Sep 30, 2021 | Mar 31, 2022 | $0.116 | 1.27% |
FAQ
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