Ericsson reiterated its expectations
Tuesday, September 11, 2007
Ericsson shares are in focus today and trading up more than 5% followed by a strong volume. Stock rise after early in the morning company reiterated its expectation that the GSM and WCDMA mobile handset market will continue to show mid-single digit growth in 2007. The company also said it expects the professional services market to continue to show good growth. Looking at the technical chart, stock is trading since July in a short term downtrend, but today inverted this trend and it now moving up, to test its 50 and 200 dma, that should be the resistances above. MACD and RSI are Bullish now. Keep an eye on ERIC for a possible breakout over its average lines, which could give a strong movement on stock again.
Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical example.
Labels: ERIC
