Ericsson (NASDAQ:ERIC) has risen sharply, recording gains of 2.16% in the past 4 weeks. However, the stock has corrected -1.56% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 0.54% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The company shares have dropped -28.14% from its 1 Year high price. On Jul 21, 2015, the shares registered one year high at $11.08 and the one year low was seen on Jun 27, 2016. The 50-Day Moving Average price is $7.62 and the 200 Day Moving Average price is recorded at $8.70.
The stock has recorded a 20-day Moving Average of 0.22% and the 50-Day Moving Average is 1.42%.
Ericsson (NASDAQ:ERIC): stock turned positive on Friday. Though the stock opened at $7.56, the bulls momentum made the stock top out at $7.57 level for the day. The stock recorded a low of $7.515 and closed the trading day at $7.56, in the green by 2.30%. The total traded volume for the day was 1,752,184. The stock had closed at $7.39 in the previous days trading.
Telefonaktiebolaget LM Ericsson (Ericsson) is a provider of communications technology and services. Ericsson offers services, software and infrastructure for mobility, broadband and the cloud in telecom industry and other sectors. Its two core businesses are Radio, Core and Transmission and Telecom Services. Ericsson operates in four business segments: Networks, Global Services, Support Solutions and Modems. It invests in five targeted areas: Internet protocol (IP) Networks; Cloud; operations and business support systems (OSS) and business support systems (BSS); TV and Media, and Industry and Society. Radio, Core and Transmission, as well as IP Networks and Cloud report into Networks segment and Telecom Services report into Global Services segment. The product and software deliveries of OSS and BSS, TV & Media, report into Support Solutions segment, while services related to these areas report into Global Services segment. Industry and Society reports into Global Services segment.