As this happened, UBS downgraded its Telefonaktiebolaget L M Ericsson ADR [ERIC] rating to a Sell from a a Neutral in a research note published recently. A number of analysts have revised their coverage, including Barclays’s analysts, who decreased its forecast for the stock in mid January from “an Equal weight” to “an Underweight”. Jefferies also remained covering ERIC and has increased its forecast on December 08, 2023 with a “Buy” recommendation from previously “Hold” rating. JP Morgan revised its rating on November 30, 2023. It rated ERIC as “a Neutral” which previously was an “an Overweight”.
Price Performance Review of ERIC
On Tuesday, Telefonaktiebolaget L M Ericsson ADR [NASDAQ:ERIC] saw its stock jump 4.53% to $8.30. Over the last five days, the stock has gained 4.93%. Telefonaktiebolaget L M Ericsson ADR shares have risen nearly 2.98% since the year began. Nevertheless, the stocks have risen 52.01% over the past one year. While a 52-week high of $8.90 was reached on 01/23/25, a 52-week low of $4.77 was recorded on 02/03/25. SMA at 50 days reached $8.03, while 200 days put it at $7.34.
Levels Of Support And Resistance For ERIC Stock
The 24-hour chart illustrates a support level at 8.17, which if violated will result in even more drops to 8.04. On the upside, there is a resistance level at 8.38. A further resistance level may holdings at 8.46. The Relative Strength Index (RSI) on the 14-day chart is 62.06, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.22, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 3.66%. Stochastics %K at 86.28% indicates the stock is a selling.
