Please take care and observe NOK's price action of the coming week.
MACD looks set up well for a Bearish zero line MACD/Signal cross. It's been my observation that when this set up is realized there is a large move to the downside that generally follows.
Watch for this week's close to maintain or exceed $4.00
A close below $4 level without significant bullish volume in the following week might see a break of the ascending triangle presented in the video.
For further details and analysis, please watch the video in its entirety.
"Last time I paid attention to Nokia was probably 19...1999, when I was getting a pager"
Hint hint. Nobody is talking about Nokia. Their twitter is basically dead. They're landing contract after contract week after week. Especially the Cybersecurity one with the US Government. They have positive free cash flow, they have a strong balance sheet, consistent revenue from patent royalties.. The list goes on and on. Also, I would strongly urge you to not just analyze price trends, but RSI trends as well. RSI trends are showing giant but silent (so far) breakouts.
There is another analyst on here that stated that institutions have now taken note of social media hype, and that institutions such as Blackrock may be piggy backing off of what happened with all the meme stocks. Aka disguised investing strategies.
With THAT kind of volume on this size of a float, there is no way on earth that was purely retail. Blackrock also increased their share count by a significant margin this past year. There are a notable amount of smaller institutions that have also been strongly accumulating.
I'm not going to say your analysis will be wrong on Nokia taking a dump, but I strongly disagree with discounting that extraordinary volume. That was likely an accumulation pump, or essentially a giant institutional DCA.
Nice observation with the potential bearish zero line cross, but I feel like you are missing a huge amount of data in this analysis and painting an explicitly bias bearish picture.
I think within the next few months you are going to regret not looking deeper but that's just my opinion. Best of luck to you sir and thanks for the video!
Cointech1
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@teh_salesman, 100% ... this one those Fomo chasers.... people don’t lean to buying dips instead the chase way up.... $10 target buy next week
....Boys are back....
spreck
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@teh_salesman, thank you for your well thought out response.
The data observed in this analysis was technical in nature and intentionally meant to bring attention to the potential zero line cross.
I clearly state at the end that if your plan is to go long on nokia and the cross and potential dump are realized, then fantastic, take it as a sale price and accumulate more (even giving likely areas of support to do so).
But for anyone who FOMO'd into NOK with a basis sitting high on that weekly wick and may be simply "hoping" it will go up, I feel it is worth noting that they should also have a plan in place and have evaluated the potential risk involved in the case of a very bearish move.
Nokia isn't something I had been paying attention to prior to WBS hype, and maybe on your suggestion I will give it further FA and dig in more to consider it as a long.
But my immediate concern is for those who may be over-leveraging simply on hype and going full YOLO without consideration to potential time frame needed to realize any extraordinary gains.
Also, as stated in the video, the week is early. There is no guarantee that the zero line cross will even come to fruition. NOK may very well crank and push higher to realize a breakout (also with potential levels to look at for confirmation of that).
I don't hold Nokia, so I have no skin in the game. But the nature of the questions i've been asked concerning the movement of this are what lead me to want to publish this idea.
My intention was only to provide a voice of possibility other than the "stonks only go up" mantra I continue to hear.
Thank you again for your honest words.
MC_Peewee
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@spreck I apologize if I came off confrontational.
Bitcoin is a very good example in my opinion of what we are currently seeing in Nokia. There was constant good news for more than a few years, but the price kept tanking. Eventually, Bitcoin did indeed have another stratospheric rise but it took a lot of time.
I would be outright lying if I said Nokia's chart looks anything but highly bearish right now, and it pains me to say that. Apparently, a good rule of thumb over in Finland is that Nokia always disappoints...
I do believe there is a major move coming very soon, probably next week due to the start of a new monthly and bi monthly candle. You did a great job on the technicals because practically everything is suggesting it will be downward. All time frames are showing absolutely no buying support whatsoever, Nokia has very easily melted through pretty much every single support I have on my particular charts. Most major MA's have been respected as resistance, all crucial support zones with the exception of $3.83 have been broken. MACD is indeed very bearish on both the daily and weekly.
I guess my comment was more geared towards future endeavors, unfortunately. I was quick to jump the gun because it just makes absolutely no sense to me how easily Nokia has destroyed every support.. Typically when a chart looks THIS bearish, it is time to play contrarian. The past few days showed a pathetic attempt at a rally back upwards but was very obviously snuffed out.
The RSI and the consistent news releases are basically the only things right now that show even the smallest bit of bullish potential. As stated previously, there are some enormous but fairly silent RSI trend line breakouts, which was the main reason I said not to dismiss the giant volume candle in late January.
Regardless of where Nokia goes from here I personally believe anything below the $3.9 is an absolute steal for medium and especially long term. You should definitely look more into it! Thanks again for your analysis, it gave me a perspective I really don't like but is necessary to keep a level head as far as expectations are concerned.
FloppinFish
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Thanks for the honest TA. I'll go to my corner and cry now. 😭
@FloppinFish, LOL. Don't cry, just be sure to have a plan in place for this trade, up or down 🤙
die4lie
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Fundamentals are fundamentals. It is good time to load up on bad sentiment. Good things must be cheap before uptrend correction comes. That's the rule. :)
realSimpleTrades
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What’s your opinion now that about a month has passed since this video
spreck
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@realSimpleTrades, Hi!
Yeah, super interesting!
NOK really held up and floated juuuust below that zero line for like a month before popping up again.
Not something you i've seen on this time frame very often. Certainly says a lot about the strength of NOK moving forward for sure.
I'm curious to see how it performs at this level, rejection or breakout. Def hitting some resistance here.
Hint hint. Nobody is talking about Nokia. Their twitter is basically dead. They're landing contract after contract week after week. Especially the Cybersecurity one with the US Government. They have positive free cash flow, they have a strong balance sheet, consistent revenue from patent royalties.. The list goes on and on. Also, I would strongly urge you to not just analyze price trends, but RSI trends as well. RSI trends are showing giant but silent (so far) breakouts.
There is another analyst on here that stated that institutions have now taken note of social media hype, and that institutions such as Blackrock may be piggy backing off of what happened with all the meme stocks. Aka disguised investing strategies.
With THAT kind of volume on this size of a float, there is no way on earth that was purely retail. Blackrock also increased their share count by a significant margin this past year. There are a notable amount of smaller institutions that have also been strongly accumulating.
I'm not going to say your analysis will be wrong on Nokia taking a dump, but I strongly disagree with discounting that extraordinary volume. That was likely an accumulation pump, or essentially a giant institutional DCA.
Nice observation with the potential bearish zero line cross, but I feel like you are missing a huge amount of data in this analysis and painting an explicitly bias bearish picture.
I think within the next few months you are going to regret not looking deeper but that's just my opinion. Best of luck to you sir and thanks for the video!