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After Yesterday's Decline of 1.26%, Ericsson Offers Investors Better Value

By David Diaz

Ericsson (NASDAQ:ERIC) traded in a range yesterday that spanned from a low of $6.24 to a high of $6.32. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $6.29 on volume of 1.2 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of Ericsson on December 16th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $5.95. Since that recommendation, shares of Ericsson have risen 6.5%. We continue to monitor ERIC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Ericsson share prices have moved between a 52-week high of $13.14 and a 52-week low of $4.83 and are now trading 29% above that low price at $6.25 per share. The 200-day and 50-day moving averages have moved 0.61% lower and 1.16% lower over the past week, respectively.

Keywords: rebounders Ericsson

Ticker(s): ERIC