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Ericsson Bearish Moving Average Crossover Alert (ERIC)

By Shiri Gupta

Today, shares of Ericsson (NASDAQ:ERIC) have fallen below their 10-day MA of $7.61 on a volume of 1.8 million shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

Ericsson share prices have moved between a 52-week high of $13.14 and a 52-week low of $7.03 and are now trading 6% above that low price at $7.48 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.2% while the 200-day MA has slid 0.6%.

SmarTrend recommended that its subscribers protect gains by selling shares of Ericsson on April 21st, 2016 by issuing a Downtrend alert when the shares were trading at $8.41. Since that call, shares of Ericsson have fallen 7.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses Ericsson

Ticker(s): ERIC