Ericsson (ERIC) Now Trades Above Golden Cross: Time to Buy?

Core Viewpoint - Ericsson (ERIC) is showing potential as a stock pick due to a recent "golden cross" event, indicating a bullish trend may be forthcoming [1][2]. Technical Analysis - A "golden cross" occurs when a stock's short-term moving average (50-day) crosses above its long-term moving average (200-day), suggesting a bullish breakout [2]. - The golden cross pattern consists of three stages: a downtrend followed by a bottoming out, the crossover of moving averages, and an upward price trend [3]. Recent Performance - ERIC has increased by 17.5% over the last four weeks, indicating strong momentum [4]. - The company currently holds a 2 (Buy) rating on the Zacks Rank, reflecting positive market sentiment [4]. Earnings Expectations - There have been three upward revisions in earnings expectations for the current quarter, with no downward revisions, further supporting the bullish outlook [4]. - The Zacks Consensus Estimate for ERIC has also increased, reinforcing investor confidence in the stock's potential for gains [4][6].