ERIC, Ericsson Telephone Comp.

ERIC June 2011

This stock was recommended in Jan 2009 when it was trading at around $7. I had not looked at it since. Today it looks very much like a sell. This chart has the usual characteristics of an A-B- where the B is a triangle. It is not exactly clear how long it actually is, but there definitely is one. Also the top occurs above the apex and the vertical distance travelled is equal. The time intervals are a bit sloppy but with a little imagination one can see 3 clear periods of about equal time. This one should drop to below $10 at the very least.