After Nokia's earnings I expected it to continue falling considering no profitability in the next quarters and no dividends as well. But seems like its starting to find the floor slowly and might bounce back to its upper Fibo levels.
Nokia right now is a pioneer is 5G hardware development (besides ericsson, china mobile to name a few) and this company isnt going anywhere considering 5G revolution is just around the corner and with more and more smartphones providing 5g tech and this becoming a mainstream, the stock will fly again.
I wont involve in this trading until I see the floor today, so just need to wait for around 3.0 levels. Maybe it doesnt reach this level considering the way it go smashed from 5.12 levels to 3.2 levels today(around 38% drop)
Buy Nokia at 3.0
Tp1 3.3
tp2 3.6
Not a short term trade and neither a long term hold.
Trade closed: target reached:
closed with tp at 3.6