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Shares of Ericsson Fall to a New 52-Week Low

By Amy Schwartz

Ericsson (NASDAQ:ERIC) traded today at a new 52-week low of $4.90. Approximately 4.1 million shares have changed hands today, as compared to an average 30-day volume of 5.4 million shares.

Over the past year, Ericssonhas traded in a range of $4.90 to $13.14 and are now at $4.91. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 1.2%.

Ericsson (NASDAQ:ERIC) has potential upside of 137.4% based on a current price of $4.91 and analysts' consensus price target of $11.65. Ericsson shares should first meet resistance at the 50-day moving average (MA) of $9.30 and find additional resistance at the 200-day MA of $9.56.

Telefonaktiebolaget LM Ericsson develops and manufactures products for wired and mobile communications in public and private networks. The Company produces mobile telephones through its Sony Ericsson joint venture. Ericsson manufactures and installs wired and wireless communications systems, wireless microwave links, call center equipment, microelectronics, and radar systems.

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 40.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows Ericsson

Ticker(s): ERIC