Watching for $NOK to test the bottom of the regression channel which will be between the 38% and 50% fib retrace through FEB. If it can hold at those supports, then we'll be back on the LONG track.
Depending on the results coming week and the new products which may be released next Februari on the exhibition.
I'm thinking a small dip between Jan and Feb after a rise to 5,5
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.
The upside momentum is not dead yet, and there is a good chance to see $4.76 before end of Jan 2013. This stock will out perform the rest of its group and could a winner for 2013 too early to load now, but above that line on solid volume will suggest a possible run $8 in 2013.
