Ericsson American Depositary Shares | ERIC

Daily Technical Analysis of Ericsson American Depositary Shares

Ericsson is down a bit on the day, funds flowing out kept the price down -1.68% since yesterday.

The company isn't at an immediate support or resistance level that might be predictive. Momentum wise Ericsson , has been oscillating up and down but hasn't shown much directional energy that would be predictive to the near future. ERIC might find some support at the 5.67 level, buyers might push the price back up from here. But it's not very clear what will happen.

Last analyzed on 2024-03-17

Analyst Ratings for Ericsson By Price Target And Rating

Overall, the analysts have a more negative view on Ericsson but it's not a very strong negative. The current Analysts Sentiment Score is -15.12. Most companies range between (-200 to 200).

Here's a break down of the latest rating changes. JPMorgan Chase & Co. released a downgrade on 2023-11-30 from Overweight to Neutral and dropped their 1 year price target to $5.90 which is down from $7.80. Societe Generale announced an upgrade on 2023-07-18 from Sell to Hold. Barclays downgraded from Overweight to Equal Weight on 2023-07-17. DNB Markets upgraded from Hold to Buy on 2023-03-30. Raymond James downgraded from Outperform to Market Perform on 2023-02-07. Cowen announced a lowering of their price target to $8.00 from $10.00 on 2023-01-23. The Goldman Sachs Group downgraded from Neutral to Sell on 2023-01-23. BNP Paribas downgraded from Outperform to Neutral on 2023-01-10.

Company	Ratings Score ? Composite analyst sentiment score	Positive Ratings	Negative Ratings	Boost Price Target	Lower Price Target
ERIC	-15.12	5.67	-25.99	0	-9.91

Earnings Per Share (EPS) Estimates By Year and Quarter

(updated 2024-04-12)

Company	YOY Growth Score (typical -20 to +20)	Revision Directions (-6 to +6)
ERIC	0.00	0.00

Short interest for Ericsson

We take into account several different measures of short interest to create a composite score. These measures are shown in the chart below. Short selling is when investors are betting against a stock. We compile these factors to create a dynamic Short Score - this can indicate poor sentiment, internal problems with a company or industry and the anticipation of future price declines. We look at the short interest percent, days to cover, the rate of change and total shares sold short.

Company	Short Score (typical 1-15) ? We take into account several different measures and attributes of short interest to create a composite sentiment score. typical range (0 - 30)	Short Interest	Days to Cover	Rate of Change	Shares Short
ERIC	2.02	%0.8	2.9	19.338	25540000

Social Sentiment for Ericsson

Social Sentiment is an aggregation of several different factors such as news, articles, blogs, user content, ratings, etc. Which is shown in the chart below. It may become predictive of a reversal if price and the sentiment diverge. Broader market forces may push prices up or down but if market participants maintain a different view on a specific stock, it may be taken as an opportunity to buy or sell in those cases.

Ticker	Social Sentiment(1-10)
ERIC

Companies with the highest correlation to Ericsson

Company	Score	1 Day%	5 Day	1 Month	3 Month	6 Month	1 Year	RSI	3mo S-momo ? Smooth Momentum is our proprietary technical indicator that looks for momentum with the greatest consistency and steady velocity. We have penalized dramatic swings and fluctuations. If the momentum is too high and an asset spikes upward, this is often unreliable and collapses back down. But the smoothed momentum provides the highest probability of continuing into the near future with the same directional rate of change. Several complex factors are weighted by neural nets to maximize probabilistic accuracy. It works the same with positive or negative directions.	6mo S-momo	1yr S-momo	Resistance ? Support and Resistance levels are determined by previous high and low points. You may be familiar with traders drawing lines across charts where several peaks or valleys occur in the same range. This helps us understand the trading range of an asset where the market doesn't perceive it to be worth more or less than a certain price level. When it nears the boundaries of this range the probability of reversal can increase. Our neural nets create scores for this measure based on many factors such as the frequency, recency, size, consistency, etc of previous reversal points.	Support	Demark Sell ? Demark 9 indicators are designed to look for exhaustion in the selling or buying trend which can often be predictive of a reversal point. This indicator is triggered when there are 9 consecutive days where the closing price is higher/lower than the closing price 4 days ago. Like all indicators, it is best used in combinations with other factors.	Short Interest Score
NOK \| Nokia Corporation	0.61	-0.54	6.09	1.67	-0.54	13.66	-10.73	63	0.29	-1.00	-9.24	-31136.58	-4757.59	0	0.350558
RJF \| Raymond James Financial,	0.49	0.38	4.64	0.17	12.45	34.81	39.67	53	131.09	37.66	46.74	-190.13	-22665.04	0	3.17231
SCHW \| The Charles Schwab Corpor	0.39	0.20	3.36	4.14	17.09	51.27	47.72	45	9.20	22.15	25.58	-13814.55	-13337.00	0	1.83254
DB \| Deutsche Bank Aktiengesel	0.37	-0.52	3.89	2.85	25.11	63.17	59.68	87	52.32	47.96	39.10	0.00	-46604.53	150	4.3165
CE \| Celanese Corporation Comm	0.34	-0.98	-0.06	-8.91	2.75	33.01	53.74	73	83.24	50.78	83.44	174.77	-27449.11	0	6.61019
WPP \| WPP PLC	0.33	0.48	3.66	6.51	-1.36	17.26	-14.49	42	-6.41	-5.46	-11.29	-15521.64	312.39	0	1.1
JPM \| JPMorgan Chase & Co.	0.32	-0.47	5.51	-4.15	8.49	35.47	38.91	64	230.66	56.93	70.41	-1400.00	-46799.59	0	1.04899

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