Squawk / 12 October 2016 at 21:53 GMT
Ericsson (ericb:xome) could be worth some commentary as the former national treasury goes belly up and lose 20 % of its market cap in one single day of trading. Today October 12 price ended up hitting SEK 49 within a few öres (SEK/100). This is a key level as it align on the Gann-wheel to 360 degrees to the peak set in April last year, say it could get some slack to SEK 48. I had originally calculated a low in November but due to a failure denoting a cycle properly the correct calculation is for a possible low on October 19. So we are close, a bit troublesome though that we are in a free fall as we don't like overshoots too far beyond our support pivot. My take is that until we get lower prices beyond October 19 and below SEK 48 - SEK 49 shorts are no longer of interest. Ideally we see a basing pattern from then on which ideally sets us up for a breakout.

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