Bottom of RSI channel + Fib confluence in NOKIA

Hi everyone. Trying my hand at stonks again.,
Nokia is showing a number of potential reversal signals.
For starters, Nokia gapped down and held the 0.886 Fibonacci retracement from the July 2012 correction rally. After that rally, Nokia had what I believe to be an ABC retracement downwards, with a target for "C" being $2.42. This correction sequence in my opinion is very reminiscent to a 3-3-5 Elliott Wave correction. 3 Waves up, 3 waves down, 5 waves up which would complete the bullish correction. If indeed we are looking at a 3-3-5 bullish correction sequence, we are either on the very last, or close to the very last wave downwards for this asset. Next would in theory be a powerful 5 wave impulse upwards to complete the 5 waves of the 3-3-5 correction.

My opinion for the measurement of the "C" wave of this final 3 ABC series is located at $2.42. The local low so far this past trading week is $2.34. We can see that there was a fairly sizable bullish candle after touching the 0.886 and 1.618 "C" wave retracement. In the RSI, notice how the bottom of the channel was respected. This has also now printed bullish divergence in the weekly chart from late 2019.

With Fibonacci, we now know that we have a potential "C" wave having completed at $2.42, as well as a bullish 0.886 retracement at roughly the same price range. Confluence!

On the 30m, we can clearly see the reactions that were present when these levels were hit:

The daily is showing 4 tests of the 0.886 and 1.618 retracements. The weekly RSI channel on the daily is showing that we briefly dipped below support, but were able to re-enter back above both oversold and the channel support. There is some bullish divergence from the 12th of March. This has been accompanied by heavily increasing overall volume. Currently, price is showing a spinning top doji after breaking above a triple top. The price increased from bottom to top by 20%.

The Chaikin Money Flow indicator is showing consistent higher lows since late Oct 2016. These higher lows are accompanied by lower highs, which is in turn forming a symmetrical triangel. There are 3 touches of support and 3 touches of resistance so far. To validate a symmetrical triangle, rule of thumb is 3 touches each on both support and resistance. This will cause a very powerful move, whichever way it breaks. There is also a potential bullish falling wedge forming from Q2 2018. On this time frame we are only 3 points away from entering the accumulation portion of this indicator.

Weekly MACD is looking somewhat neutral. There have been consistent lower lows and lower highs since mid 2017. There is a flag-like channel the MACD has been following, similar to the RSI.
Interestingly, a very peculiar situation in the MACD histogram, however. There is a very strong bullish divergence in this recent drop versus the one that took place in November.
Like the weekly CMF indicator, there is a potential bullish falling wedge forming as well.

By the way. I did an analysis on Gold back in April of last year. Coming up on 1 year from the day I made it, gold is so far doing (almost) exactly what I thought it would. If Gold falls back down for a re-test of $1,350, it could mean that stocks are very near a potential bottom.

Gold is also printing a descending triangle, and is currently facing rather strong resistance in the RSI.

Consider how much fear there is in the market right now.
Consider how hard and how quickly we dumped, 35%!!! IN WEEKS!
The strongest and fastest drop in literal history.
Also keep in mind- Wuhan and mainland china are now peaking in CV19 cases.
And last but not least- just how many shorts and puts do you think there are?

nokia's have a wide reputation for being INDESTRUCIBLE.
This asset is literally screaming bull flags everywhere. wtf America?

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so angry.
5/13

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so angry.
5/13

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iSpy
with my little eye
an ascending triangle
if she breaks, she flies

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$4.13 in premarket already.

Nokeya up bigly

=0

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There's legit no way this goes according to plan...
...right?
..right?

:o

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wtf

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Wallstreetbets has been buzzing about Nokia, and news reports are showing solid cash reserves and balance sheets, along with higher profit margins BUT lower overall revenue. Nokia has been silent! I wonder why..

The company that once made a literally indesctructible phone.
No red flags really on news reports.
It just dumped 20%.
erm...HELLO!?

1/21/22 $7 calls are pretty fucking cheap right now bois.