Telefonaktiebolaget LM Ericsson (ERIC) Price

Mr. E. Boerje Ekholm is the President of Telefonaktiebolaget LM Ericsson, joining the firm since 2006.

The current price of ERIC is $8.1, it has increased 0.3% in the last trading day.

Telefonaktiebolaget LM Ericsson belongs to Communications industry and the sector is Information Technology

Telefonaktiebolaget LM Ericsson's current market cap is $24.8B

According to wall street analysts, 24 analysts have made analyst ratings for Telefonaktiebolaget LM Ericsson, including 2 strong buy, 3 buy, 13 hold, 8 sell, and 2 strong sell

Looks like you're watching paint dry, fren. Ericsson is seeing a slight uptick today, crawling towards a key resistance level around $8.16 . This slow grind is fueled by a mix of recent positive news around its 5G and AI ventures, coupled with a technical setup that's turning cautiously bullish, even as most analysts sit on the fence.

The stock's move today isn't a rocket launch; it's more of a calculated push. Here’s the breakdown of what's providing the fuel:

• Fundamental News Flow:

  • AI & 5G Wins: Ericsson has been making some solid moves. They recently deployed a private 5G network for a Hitachi Rail factory, showcasing practical application of their tech . More importantly, they're part of a joint venture with giants like AstraZeneca and Saab to launch "Sferical AI," a supercomputer initiative . Tapping into the AI narrative is always a good look and likely attracting some investor attention.
  • Corporate Housekeeping: The company recently completed the sale of its iconectiv business, which tidies up the books . They also announced some cost-cutting layoffs in Canada . While layoffs aren't great news, the market often reads this as a move toward greater efficiency.

• Technical Posture (The Alpha):

  • Key Level Test: The stock is currently trading around $8.07, pushing right up against a daily resistance level of $8.16 . A decisive break and hold above this level could signal further upside.
  • Bullish Momentum Indicators: The daily RSI (Relative Strength Index) is at a healthy 60.8, indicating strong buying momentum without being overbought . The MACD indicator also shows a positive and growing histogram, which confirms the bullish trend is strengthening in the short term .
  • Moving Average Crossover: The price has just poked its head above the 200-day moving average ($8.048), a long-term trend indicator that bulls love to see . It's comfortably above the 50-day MA ($7.687), reinforcing the short-to-medium term uptrend .

• Analyst & Market Sentiment:

  • Wall Street is Neutral: Don't get too excited. The overall analyst consensus is a resounding "NEUTRAL" or "Hold" . While the mean price target is $8.53, offering some upside, there's no strong conviction from the big firms yet . This suggests a "wait and see" approach.

The play here is to watch if ERIC can decisively break and hold above that $8.16 resistance. If it does, the next target could be the analyst mean price of $8.54. If it gets rejected, it could fall back to support near $7.90.

Seriously though, instead of watching this boomer stock crawl, maybe check out the Edgen Radar for assets that actually move. Just a thought.