Get started
ChristopherCarrollSmith

Nokia a long-term recovery play

Long
Nokia Corporation Sponsored (NYSE:NOK)  
ChristopherCarrollSmith Updated   
NYSE:NOK   Nokia Corporation Sponsored
Oscillators Fundamental Analysis telecommunications technology 5g
16
0
oscillator fundamental telecommunications technology 5g
Nokia's stock price bombed after its last earnings report. The drop was definitely justified given its change in outlook for 2020, but the 2021 outlook still looks good. In two years, I think we see $7 per share for this stock. It could happen sooner if Nokia starts to execute better. Short-term, I see bullish divergences that suggest momentum is coming back into the stock. The Reverse RSI indicator also flashed a buy signal.
Comment:
This is another decent "January effect" play.
Comment:
Nokia is at a resistance level. I am holding for January, but this is a decent exit for the short-to-medium-term trader who entered with me around $3.50. Respectable 6% return on this trade so far.
Comment:
After today's earnings forecast upgrade, I expect Nokia to see $4.50 per share within the year.
Comment:
Nokia is testing a critical resistance level. We are likely to see a small pullback, possibly followed by a breakout higher toward 4.50.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.