Telefonaktiebolaget LM Ericsson (publ) Stock Forecast
Stronger technical forecast for Telefonaktiebolaget LM Ericsson (publ) stock price after Monday trading.
(Updated on Mar 11, 2024)
The Telefonaktiebolaget LM Ericsson (publ) stock price gained 0.544% on the last trading day (Monday, 11th Mar 2024), rising from kr56.99 to kr57.30. During the last trading day the stock fluctuated 1.34% from a day low at kr56.54 to a day high of kr57.30. The price has risen in 7 of the last 10 days and is up by 2.1% over the past 2 weeks. Volume fell on the last day by -3 million shares and in total, 4 million shares were bought and sold for approximately kr238.40 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -12.68% during the next 3 months and, with a 90% probability hold a price between kr46.04 and kr51.54 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-B.ST Signals & Forecast
Mostly positive signals in the chart today. The Telefonaktiebolaget LM Ericsson (publ) stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at kr56.81 and kr57.17. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, February 14, 2024, and so far it has risen 3.71%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Telefonaktiebolaget LM Ericsson (publ) stock
Telefonaktiebolaget LM Ericsson (publ) finds support from accumulated volume at kr57.17 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved kr0.760 between high and low, or 1.34%. For the last week the stock has had daily average volatility of 1.62%.
Our recommended stop-loss: kr54.37 (-5.11%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (ERIC-B.ST) For The Upcoming Trading Day Of Tuesday 12th
For the upcoming trading day on Tuesday, 12th we expect Telefonaktiebolaget LM Ericsson (publ) to open at kr57.05, and during the day (based on 14 day Average True Range), to move between kr56.25 and kr58.35, which gives a possible trading interval of +/-kr1.05 (+/-1.83%) up or down from last closing price. If Telefonaktiebolaget LM Ericsson (publ) takes out the full calculated possible swing range there will be an estimated 3.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr57.17 (0.23%) than the resistance at kr60.40 (5.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Telefonaktiebolaget LM Ericsson (publ) stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.100 Buy Candidate Upgraded
Predicted Opening Price for Telefonaktiebolaget LM Ericsson (publ) of Tuesday, March 12, 2024
| Fair opening price March 12, 2024 | Current price |
|---|---|
| kr57.05 ( 0.442%) | kr57.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
News Digest
Trading levels for ERIC-B.ST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 57.81 | 0.88 % | |
| R2 | 57.52 | 0.378 % | ||
| R1 | 57.34 | 0.0645 % | ||
| Current price: | 57.30 | |||
| Support | S1 | 56.76 | -0.95 % | |
| S2 | 56.58 | -1.26 % | ||
| S3 | 56.29 | -1.77 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 63.53 | 10.87 % | |
| R2 | 61.75 | 7.77 % | ||
| R1 | 60.40 | 5.41 % | ||
| Current price | 57.30 | |||
| Support | S1 | 57.17 | -0.227% | |
| S2 | 56.99 | -0.541% | ||
| S3 | 55.25 | -3.58% |
ERIC-B Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 04, 2024 | Apr 04, 2024 | Apr 04, 2024 | kr0 | 0% |
| 2 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | kr1.35 | 2.25% |
| 3 | Sep 29, 2022 | Sep 29, 2022 | Oct 14, 2022 | kr1.25 | 1.76% |
| 4 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | kr1.25 | 1.43% |
| 5 | Sep 30, 2021 | Sep 30, 2021 | Sep 30, 2021 | kr1.00 | 1.01% |
FAQ
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