Ok let's do some crazy predictions!
ERICSSON has been forming a cup and handle over the last few years. Doing a cup and then a perfect retrace (handle) to the 0.618 fib.
The resistance of this cup has recently been broken and is now being retested (red circle).
Now, the conservative next target is the resistance area around 118 (orange circle). HOWEVER (here...
So looking on the monthly chart we see that despite covid, Ericsson nicely held it's long term upward trendline.
Furthermore, it broke through some pretty tough resistance with a big green candle this month.
All great signals for a continued long term upward trend.
So what do I want to see for a good buying opportunity?
- A retest of the horizontal resistance...
By the time i see this with " Long Buy Long Sell Indicator " The buy move that is the LONG move in 4h timeframe has already been started.
This move will continue for another 4 trading session the reason is the below STRENGTHMETERS are really good .
It makes good sense to enter long and avoid short at this time as the price is uptrending .
hit me likes and...
Nice breakout from bull-flag.
MACD in bullish reversal as Histogram
ticks higher.
RSI crossed Mid -Point
Volume increasing as a result of new deal.
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The S&P 500 is having its worst drop since mid-March. On days like today it can be useful to scan for stocks under accumulation before the selling hit. One of those is Ericsson.
ERIC started running last month after President Trump moved against Huawei. Analysts see that helping the Swedish telecom supplier gain market share in U.S. 5G networks.
ERIC was...
Ericsson seems to be tracing the last wave of an upward correction that would complete minor C wave. After this it should turn down in another good move down. Follow SKYLINEPRO TO GET UPDATES.
Be free to continue bear until 63 SEKs...
Once at near 63, most probably will enter a boring range for some time to stabilize the price.
The trading is SO SO SO easy... SELLING NOW and CLOSE ALL @63
