NOK's recent upswing raises the obvious question - can we expect further upward movement. I believe the answer is yes.
Last weeks regression should have questioned the continuance of wave three, however the strong upward movements and the completion of the ABC regression seems to have instead signaled the end of wave V's and should allow us to continue upwards....
Long: Major channel (green) breakout on daily and weekly chart. However, price now touches ceiling of new faster channel (yellow). will likely to test major channel top again at 4.58 -4.60 next week. If holds, then buy. Moving averages in perfect alignment an indication of strong long-term trend.
Short: Watch price actions closely next week to verify whether the...
Where did this downward move halt? At 38,2 fibb retracement of the larger wave as I have as labeld as a wave 3.
Closed shorts, and bough some shares also. It is most likley a minor a wave, but could also be a larger C wave. Since I do not know I post this a neutral.
Possible expanding triangle, cause of a complex correction in wave 2 sep-okt.
This is also why I took profit yesterday, and bought short positions today.
Nokia need to breath - me to - Merry Christmas!
Sincerely yours,
Financehulligan
Read the shart. As a beginner it might be difficult to trade a Golden Cross or a Dead Cross.
The Nokia share is bullish and a Golden Cross is a bullish signal, but in the short period, some takes profit and that might lead to that the share bounce downwards the cross. Be careful, use a stop-loss as always to protect your capital.
I post this as neutral, since...
Many people have commented on buying Nokia's dip so I do not feel that I have much more to add, except to point out that today's very low opening of Nokia, can be again treated as a pullback as long as it doesn't fall down way below its opening price!
In the case it doesn't fall down too much from 2.61 - 2.59, I believe that technically is is a good buy...
After losing more than half of its market cap, Nokia fell into extremely oversold territory. Recent reports suggest that Windows-based Nokia Lumia phones are already shaking the smart phone sales. According to the majority of AMZN customers, the Lumia phone feels better than iOS and Android smartphones. I think this alliance could prove to be highly profitable in...
