This and next week will be 9 months since the 'BANG' 'meme stocks' had a huge surge of 'retail' buying.
Nokia will be releasing their next Earnings Report in 9 days on 10/28/21.
The chart for Nokia is currently showing an interesting confluence coinciding with these events.
I'd keep a very close eye on the stock options for this company. The implied volatility has been beaten into the ground for the past few decades. When Nokia finally breaks back above and finds buying support on the neckline in this idea, all bets are off for 'Theta Gang'. It is fairly widely known that this company's stock has been a reliably substantial revenue stream for options writers who manipulate the price to their benefit. For YEARS. That is about to end, and end it will like 'a flash in a pan'. I'm sure the options writers who are about to get cooked have already made so much profit by screwing over the little guys that it won't really matter to them anyway. In fact, they'll very likely win yet again.
Man.
This is the one.
Nokia will be releasing their next Earnings Report in 9 days on 10/28/21.
The chart for Nokia is currently showing an interesting confluence coinciding with these events.
I'd keep a very close eye on the stock options for this company. The implied volatility has been beaten into the ground for the past few decades. When Nokia finally breaks back above and finds buying support on the neckline in this idea, all bets are off for 'Theta Gang'. It is fairly widely known that this company's stock has been a reliably substantial revenue stream for options writers who manipulate the price to their benefit. For YEARS. That is about to end, and end it will like 'a flash in a pan'. I'm sure the options writers who are about to get cooked have already made so much profit by screwing over the little guys that it won't really matter to them anyway. In fact, they'll very likely win yet again.
Man.
This is the one.
Comment:
Today, Nokia crossed back above the 50 moving average on the 2 month time frame. The 100 moving average for this time frame resides currently at $10.40, which in theory, would be the next target once Nokia crosses above the 0.618 Fib:
Another thing I forgot to mention with regards to moving averages are golden crosses. In the latter part of April this year, the weekly chart showed a golden cross forming between the 50 and 100 moving averages. RIGHT before the actual cross occurred was when Nokia skyrocketed off of their Earnings Report.
Guess what's really really close to happening again? Another golden cross, this time between the 50 and 200 moving averages, which in theory should be more powerful. Keeping in mind that MA's are a lagging indicator, it may take some time yet and/or some downward movement to test for support first, since Nokia is well above the both the 50 and 200 MA on this time frame. The first cross in April happened as price was situated right on the averages.
Another thing I forgot to mention with regards to moving averages are golden crosses. In the latter part of April this year, the weekly chart showed a golden cross forming between the 50 and 100 moving averages. RIGHT before the actual cross occurred was when Nokia skyrocketed off of their Earnings Report.
Guess what's really really close to happening again? Another golden cross, this time between the 50 and 200 moving averages, which in theory should be more powerful. Keeping in mind that MA's are a lagging indicator, it may take some time yet and/or some downward movement to test for support first, since Nokia is well above the both the 50 and 200 MA on this time frame. The first cross in April happened as price was situated right on the averages.
Comment:
Bullishly bias update here:
Early this year, I called Nokia as being in a potential bullish ascending triangle pattern. In Elliott Wave, which I am admittedly still not very good at, an ascending triangle pattern consists of 5 corrective movements known as an ABCDE correction. They are a series of 'waves' that constrict into a triangular pattern, squeezing the price until a large movement upside occurs. One thing I did not take into account was that after the "E" wave, an impulse occurs which broke Nokia out of the ascending triangle. As I am looking at this now, I believe I may have found more to the patterns that Nokia is currently moving in which strengthens my theory that Nokia is still much more bullish than people yet realize. There is a more than decent chance Nokia is about to begin a wave 3 impulse upside, which if correct would either meet or break well above the height of the rally in January earlier this year.
Once an ascending triangle breaks out of the upside resistance, there is normally a retracement that occurs back down to the that prior resistance to test if it has flipped into support. In the case of Nokia, I believe that the breakout above the ascending triangle was the 5th and final wave of a 5-wave impulse series, known as a diagonal wave. "A Diagonal Wave is the second type of motive wave. It is not an impulse wave. However, like all motive waves, it consists of five sub-waves and aims to move the market in the direction of the trend. The difference is that the diagonal looks like a wedge - either expanding or contracting."
This 5th diagonal wave of the larger impulse ended up being an ascending bearish wedge, shown here:
financialfreedomtrad...11.06.22_Resized.jpg
The structure is essentially the same as a bullish ascending triangle, only it's more wedge-like and typically occurs at the end of an impulse up or down. In Nokia's case, it was a bearish ascending wedge and happened at the very top before price had a fairly sizable retracement. A good description below:
"It normally leads with a strong movement, making a higher high. After that, further higher highs and higher lows are formed, but the trendlines which connect the recent highs and recent lows are contracting. Price is squeezing. When taking the traders who are trading the uptrend into account, you have to consider, that they are rising their stops under the recent lows. This means, that short orders are located there to even out their long position. The uptrend starts to lose its momentum, because the recent higher highs are not greater than the rising lows. As soon as enough market participants decide the uptrend isn’t worth participating anymore and take profit, they are starting a cascade of sell orders. This leads to rapid movements often resulting in huge falls without any major correction."
To illustrate what I am seeing, here is a screenshot of what I believe to be the (mostly full) count of the impulse wave Nokia had back upwards after the January 'meme rally', including the ascending bearish wedge:
A few reasons to believe that was a legitimate impulse wave:
1) The RSI typically spikes the highest during a wave 3, and then there is bearish divergences that show up during the final (5th) wave as it completes:
2) After an impulse completes, there is a correction. For Nokia, I believe we're looking at an ABC correction as shown in the count above. Typically, the correction usually completes at or near the 3rd wave of the prior impulse wave. As you can see here, this is very, very close. That's not to say the entire correction is completed just yet, it is possible more downside will come to test that prior 3rd wave as support, but we'll see:
IF.
IF this update is correct, it means Nokia has already completed or soon will complete the correction from the high of $6.29.
This would also mean that Nokia has completed the very first impulse wave of a 5 wave series. Next would be wave 3. The one I've been waiting nearly an entire year for.
Pattern analysis from these sources:
financialfreedomtrad...al-and-continuation/
financialfreedomtrad...11.06.22_Resized.jpg
pbs.twimg.com/m...DTjHF0LU8AEyIQH?format=jpg...
school.stockcha...ts.com/doku.php?id=market_...
Early this year, I called Nokia as being in a potential bullish ascending triangle pattern. In Elliott Wave, which I am admittedly still not very good at, an ascending triangle pattern consists of 5 corrective movements known as an ABCDE correction. They are a series of 'waves' that constrict into a triangular pattern, squeezing the price until a large movement upside occurs. One thing I did not take into account was that after the "E" wave, an impulse occurs which broke Nokia out of the ascending triangle. As I am looking at this now, I believe I may have found more to the patterns that Nokia is currently moving in which strengthens my theory that Nokia is still much more bullish than people yet realize. There is a more than decent chance Nokia is about to begin a wave 3 impulse upside, which if correct would either meet or break well above the height of the rally in January earlier this year.
Once an ascending triangle breaks out of the upside resistance, there is normally a retracement that occurs back down to the that prior resistance to test if it has flipped into support. In the case of Nokia, I believe that the breakout above the ascending triangle was the 5th and final wave of a 5-wave impulse series, known as a diagonal wave. "A Diagonal Wave is the second type of motive wave. It is not an impulse wave. However, like all motive waves, it consists of five sub-waves and aims to move the market in the direction of the trend. The difference is that the diagonal looks like a wedge - either expanding or contracting."
This 5th diagonal wave of the larger impulse ended up being an ascending bearish wedge, shown here:
financialfreedomtrad...11.06.22_Resized.jpg
The structure is essentially the same as a bullish ascending triangle, only it's more wedge-like and typically occurs at the end of an impulse up or down. In Nokia's case, it was a bearish ascending wedge and happened at the very top before price had a fairly sizable retracement. A good description below:
"It normally leads with a strong movement, making a higher high. After that, further higher highs and higher lows are formed, but the trendlines which connect the recent highs and recent lows are contracting. Price is squeezing. When taking the traders who are trading the uptrend into account, you have to consider, that they are rising their stops under the recent lows. This means, that short orders are located there to even out their long position. The uptrend starts to lose its momentum, because the recent higher highs are not greater than the rising lows. As soon as enough market participants decide the uptrend isn’t worth participating anymore and take profit, they are starting a cascade of sell orders. This leads to rapid movements often resulting in huge falls without any major correction."
To illustrate what I am seeing, here is a screenshot of what I believe to be the (mostly full) count of the impulse wave Nokia had back upwards after the January 'meme rally', including the ascending bearish wedge:
A few reasons to believe that was a legitimate impulse wave:
1) The RSI typically spikes the highest during a wave 3, and then there is bearish divergences that show up during the final (5th) wave as it completes:
IF.
IF this update is correct, it means Nokia has already completed or soon will complete the correction from the high of $6.29.
This would also mean that Nokia has completed the very first impulse wave of a 5 wave series. Next would be wave 3. The one I've been waiting nearly an entire year for.
Pattern analysis from these sources:
financialfreedomtrad...al-and-continuation/
financialfreedomtrad...11.06.22_Resized.jpg
pbs.twimg.com/m...DTjHF0LU8AEyIQH?format=jpg...
school.stockcha...ts.com/doku.php?id=market_...
Comment:
y do blackberry and nokia have eerily similar volume bars the past 3 months?
Comment:
This channel isn't exactly perfect, it really comes down to interpretation, buuut I think it's damn close.
THAT said, a noteworthy development within it. At the end of September, Nokia tested the mid line of the channel and had a 12% rally from it. This past trading week, Nokia yet again attempted to touch the mid line of the channel, but buyers stepped in before reaching it. The 0.5 bullish Fibonacci retracement from the 2014 high to the 2020 plandemic low held as support instead. As shown in the below screenshot, the last time Nokia *gracefully* tested the 0.5 Fib on July 19th, it had a 13% rally.
As we can also see, the 0.5 Fib did not hold as support the *very* last time price touched it, but the mid line of the channel did. So, not only was the *most recent* selling pressure not enough to touch the mid line of the channel again, it also could not push Nokia down enough to touch the 0.5 Fib either. On the last touch of the mid line, September 20th, the subsequent retracement was front run. This past week? Front run again but this time by a bit more %.
But Wait! THERE'S MORE!
There is a trend line of higher lows that seems to be holding as support ever since the Earnings Report at the end of April. 6 Touches thus far, establishing this as a legitimate trend line:
And SINCE I'm on the topic of trend lines.. One of the most important developments lately is a crucial monthly trend line that Nokia also tested on that last dip to the 0.5 Fib. I present to you the trend line that *should* have been shown in place of the one that is in this original idea: (P.s. I will show the RSI trend line present in the screenshot more in depth a little farther down. It's very important as both RSI and price are showing serious confluence on this time frame.)
Weekly:
Daily:
Now, some things I have noticed in the RSI. Firstly, I'd like to show a monthly trend line that caught my eye which started in February of 2004. Since that date, Nokia has only *gracefully* landed on this trend line once, in 2006. You can see for yourself what happened to the RSI thereafter. The August monthly candle closed perfectly on this trend line:
The 2 week time frame also shows multiple important signals. It closed *perfectly* above nearly 4 year long resistance for the third time in a row. Since Nokia broke out of this resistance in April, it has tried on multiple occasions to break back below it. Most recently after the RSI broke below this resistance, it was quickly bought back up, forming hammers just in time for candle close. Also notice there is a rising diagonal trend line of higher lows that has now met with the above mentioned horizontal trend line. So.. Horizontal support, diagonal support, 0.5 Fib support, and candles turning into hammers. Confluence. A lot of it. People are accumulating here...
Last, but not least. An 8 year long weekly resistance that Nokia is currently above. I touched on a variation of this trend line in my last idea. There is also a trend line forming for the tops/resistances of the weekly RSI. Next time Nokia breaks into overbought on this time frame will be a doozy:
So. When we take everything into account? Nokia finally broke out of and has so far perfectly tested a 7 year monthly price trend line. It perfectly tested the 0.5 Fibonacci level of a nearly 10 year retracement. It has perfectly held the mid line of a nearly 2 year long parallel channel. There is a beautiful bull price trend line of higher lows going back to Earnings in April Nokia just successfully tested. The RSI is and has been showing significant but silent breakouts and subsequent successful tests of support. Nokia just had their quarterly Earnings Report and SURPRISE! Yet again showing consistent improvements. Oh, and the 'Meme stocks' are making moves again.
All of this is happening at virtually the SAME EXACT TIME.
Oh, and there's also this. Nokia just landed what seem to be fairly major contracts with China:
twitter.com/nok...914209464270848?s=20
Anddd the infrastructure bill just passed. Whether that will truly affect Nokia or not remains to be seen, but with the way the chart looks I truly don't know that it matters:
www.reddit.com/r/Nok...isan_infrastructure/
What does it all mean!>?@#$>
THAT said, a noteworthy development within it. At the end of September, Nokia tested the mid line of the channel and had a 12% rally from it. This past trading week, Nokia yet again attempted to touch the mid line of the channel, but buyers stepped in before reaching it. The 0.5 bullish Fibonacci retracement from the 2014 high to the 2020 plandemic low held as support instead. As shown in the below screenshot, the last time Nokia *gracefully* tested the 0.5 Fib on July 19th, it had a 13% rally.
As we can also see, the 0.5 Fib did not hold as support the *very* last time price touched it, but the mid line of the channel did. So, not only was the *most recent* selling pressure not enough to touch the mid line of the channel again, it also could not push Nokia down enough to touch the 0.5 Fib either. On the last touch of the mid line, September 20th, the subsequent retracement was front run. This past week? Front run again but this time by a bit more %.
But Wait! THERE'S MORE!
There is a trend line of higher lows that seems to be holding as support ever since the Earnings Report at the end of April. 6 Touches thus far, establishing this as a legitimate trend line:
And SINCE I'm on the topic of trend lines.. One of the most important developments lately is a crucial monthly trend line that Nokia also tested on that last dip to the 0.5 Fib. I present to you the trend line that *should* have been shown in place of the one that is in this original idea: (P.s. I will show the RSI trend line present in the screenshot more in depth a little farther down. It's very important as both RSI and price are showing serious confluence on this time frame.)
Weekly:
Daily:
Now, some things I have noticed in the RSI. Firstly, I'd like to show a monthly trend line that caught my eye which started in February of 2004. Since that date, Nokia has only *gracefully* landed on this trend line once, in 2006. You can see for yourself what happened to the RSI thereafter. The August monthly candle closed perfectly on this trend line:
The 2 week time frame also shows multiple important signals. It closed *perfectly* above nearly 4 year long resistance for the third time in a row. Since Nokia broke out of this resistance in April, it has tried on multiple occasions to break back below it. Most recently after the RSI broke below this resistance, it was quickly bought back up, forming hammers just in time for candle close. Also notice there is a rising diagonal trend line of higher lows that has now met with the above mentioned horizontal trend line. So.. Horizontal support, diagonal support, 0.5 Fib support, and candles turning into hammers. Confluence. A lot of it. People are accumulating here...
Last, but not least. An 8 year long weekly resistance that Nokia is currently above. I touched on a variation of this trend line in my last idea. There is also a trend line forming for the tops/resistances of the weekly RSI. Next time Nokia breaks into overbought on this time frame will be a doozy:
So. When we take everything into account? Nokia finally broke out of and has so far perfectly tested a 7 year monthly price trend line. It perfectly tested the 0.5 Fibonacci level of a nearly 10 year retracement. It has perfectly held the mid line of a nearly 2 year long parallel channel. There is a beautiful bull price trend line of higher lows going back to Earnings in April Nokia just successfully tested. The RSI is and has been showing significant but silent breakouts and subsequent successful tests of support. Nokia just had their quarterly Earnings Report and SURPRISE! Yet again showing consistent improvements. Oh, and the 'Meme stocks' are making moves again.
All of this is happening at virtually the SAME EXACT TIME.
Oh, and there's also this. Nokia just landed what seem to be fairly major contracts with China:
twitter.com/nok...914209464270848?s=20
Anddd the infrastructure bill just passed. Whether that will truly affect Nokia or not remains to be seen, but with the way the chart looks I truly don't know that it matters:
www.reddit.com/r/Nok...isan_infrastructure/
What does it all mean!>?@#$>
Comment:
Zoomed out:
As I was saying last update.
In the past 2 weeks, Nokia held the late April Earnings bullish trend line, the 0.5 bullish retracement fib from the $8.73 high to the Covid $2.34 low, AND the monthly trend line resistance that has held Nokia at bay since late 2014. All at the same time.
Another thing I very recently noticed. Do you see it?
What about now?
After a brief search online, it doesn't seem that pretty much anyone is paying close attention to what the chart is forming. The monthly and below is very clearly forming a bull pennant. Price is constricting and volume is lowering, which by TA standards signals continuation of trend:
Now, take a look at these. $17 Call contracts expiring 1/21/22:
ibb.co/VqRNX0T
ibb.co/3zprBCT
The open interest here is nowhere near as high as the 330,000 open contracts for the $10 strike price for the same expiration. The change in the open interest isn't really much to talk about either. Yet, 53,000 open contracts for massively out of the money options is still fairly significant. What is most significant is the fact that the most volume has shown up at the lows. Although the volumes here overall are weak as hell compared to other strikes, I haven't seen this very often except for preceeding a decent sized move.
Because of how low Nokia's historical implied volatility is, any decent pop in share price in one day will move these contracts upwards. I remember when everyone thought the 6/18 options chain would have a gamma squeeze. A month prior to that I had bought $10 call contracts for $0.01 for that expiration. On June 2nd, I sold some of those for $0.09 per contract. If I remember correctly they went a bit higher than that even. Mind you this was when Nokia was in the low $5 range, so those contracts were nearly 100% OTM expiring in just a month.
Same thing is happening with the $7 call contracts with 1/21/22 expirations. As soon as the premium significantly dips, OI increases. On the more recent dips, strong volumes also showed up:
ibb.co/jvy5174
The $10 call contracts have lowered by about 7.5% in open interest since early September, but they still hold the highest open interest for any contract in the entire market right now.
One last thing to note as far as options is concerned. As of now, there is no noteworthy amount of open interest in far OTM contracts until the 1/21/22 expiration date. That expiration date has over 1,000,000 call contracts open in total. Once those contracts expire, Nokia has zero significant open interest in any call contracts until 2023. If a gamma squeeze were ever to occur for Nokia again like in January, the most opportunity lies with the 1/21/22 options chain.
I can't say for sure one way or another what will happen by the time all those contracts expire, but I do think Nokia is going to attack the $6.30 price resistance again by then. If it does, that will be a breakout of the current bull pennant formation. That will be a signal to go long for traders which would add to the momentum of the breakout. Volume needs to sustain however in order for Nokia to power higher.
Zoomed out:
As I was saying last update.
In the past 2 weeks, Nokia held the late April Earnings bullish trend line, the 0.5 bullish retracement fib from the $8.73 high to the Covid $2.34 low, AND the monthly trend line resistance that has held Nokia at bay since late 2014. All at the same time.
Another thing I very recently noticed. Do you see it?
What about now?
After a brief search online, it doesn't seem that pretty much anyone is paying close attention to what the chart is forming. The monthly and below is very clearly forming a bull pennant. Price is constricting and volume is lowering, which by TA standards signals continuation of trend:
Now, take a look at these. $17 Call contracts expiring 1/21/22:
ibb.co/VqRNX0T
ibb.co/3zprBCT
The open interest here is nowhere near as high as the 330,000 open contracts for the $10 strike price for the same expiration. The change in the open interest isn't really much to talk about either. Yet, 53,000 open contracts for massively out of the money options is still fairly significant. What is most significant is the fact that the most volume has shown up at the lows. Although the volumes here overall are weak as hell compared to other strikes, I haven't seen this very often except for preceeding a decent sized move.
Because of how low Nokia's historical implied volatility is, any decent pop in share price in one day will move these contracts upwards. I remember when everyone thought the 6/18 options chain would have a gamma squeeze. A month prior to that I had bought $10 call contracts for $0.01 for that expiration. On June 2nd, I sold some of those for $0.09 per contract. If I remember correctly they went a bit higher than that even. Mind you this was when Nokia was in the low $5 range, so those contracts were nearly 100% OTM expiring in just a month.
Same thing is happening with the $7 call contracts with 1/21/22 expirations. As soon as the premium significantly dips, OI increases. On the more recent dips, strong volumes also showed up:
ibb.co/jvy5174
The $10 call contracts have lowered by about 7.5% in open interest since early September, but they still hold the highest open interest for any contract in the entire market right now.
One last thing to note as far as options is concerned. As of now, there is no noteworthy amount of open interest in far OTM contracts until the 1/21/22 expiration date. That expiration date has over 1,000,000 call contracts open in total. Once those contracts expire, Nokia has zero significant open interest in any call contracts until 2023. If a gamma squeeze were ever to occur for Nokia again like in January, the most opportunity lies with the 1/21/22 options chain.
I can't say for sure one way or another what will happen by the time all those contracts expire, but I do think Nokia is going to attack the $6.30 price resistance again by then. If it does, that will be a breakout of the current bull pennant formation. That will be a signal to go long for traders which would add to the momentum of the breakout. Volume needs to sustain however in order for Nokia to power higher.
Comment:
Large volume today in the 12/17 $6 calls.
weird
weird
Comment:
Helsinki had a good trading day today. A whopping 2.41%.
50 DMA held as support, and Nokia is jutted right up against 111 day resistance.
4H on Helsinki is showing strong RSI resistance as well.
Helsinki had a good trading day today. A whopping 2.41%.
50 DMA held as support, and Nokia is jutted right up against 111 day resistance.
4H on Helsinki is showing strong RSI resistance as well.
Comment:
This is what I believe Helsinki exchange is showing for a monthly picture. It corroborates my theory that Nokia is in a gigantic decade long inverted head and shoulders pattern. As of July this year, Nokia has finally broken above the neckline and is now confirming support:
This is another way that it can be drawn:
It is known that trend lines are very subjective, obviously. Yet, if you draw a trend line from the 2015 high on Helsinki or the 2014 high on NYSE, Nokia is above every single diagonal monthly resistance. It is also currently testing them for support. According to what happened yesterday and today, support is so far showing success.
To update the original idea:
I do not believe the monthly price trend line I have in this idea is correct.
I have been fervently trying to figure out Nokia's 'break out' point ala January. So, I have done more TA on this damn asset than practically everything else combined aside from BTC.
In the original idea, I do not like how the trend line ignores the wick high in early 2019:
Even though I feel that trend line is incorrect, price is *very* close to closing above it depending what happens tomorrow:
The daily is less than half a % away:
I believe the below trend line is correct. It would also imply that Nokia has not only broken out of it, but tested for support on it many times over the past month:
As shown in previous updates, the daily has been holding literally perfectly. The latest occasion being front run, even:
The last two days have had significant movement when compared to prior rallies for the past few months. The options volumes for the $6 calls expiring next Friday 11/26, and 12/17 have also risen quite a bit during this time period as well:
ibb.co/Lzd6XFc
ibb.co/SdjBzpn
Nokia, wut r yew dewin?
This is another way that it can be drawn:
It is known that trend lines are very subjective, obviously. Yet, if you draw a trend line from the 2015 high on Helsinki or the 2014 high on NYSE, Nokia is above every single diagonal monthly resistance. It is also currently testing them for support. According to what happened yesterday and today, support is so far showing success.
To update the original idea:
I do not believe the monthly price trend line I have in this idea is correct.
I have been fervently trying to figure out Nokia's 'break out' point ala January. So, I have done more TA on this damn asset than practically everything else combined aside from BTC.
In the original idea, I do not like how the trend line ignores the wick high in early 2019:
Even though I feel that trend line is incorrect, price is *very* close to closing above it depending what happens tomorrow:
I believe the below trend line is correct. It would also imply that Nokia has not only broken out of it, but tested for support on it many times over the past month:
The last two days have had significant movement when compared to prior rallies for the past few months. The options volumes for the $6 calls expiring next Friday 11/26, and 12/17 have also risen quite a bit during this time period as well:
ibb.co/Lzd6XFc
ibb.co/SdjBzpn
Nokia, wut r yew dewin?
Comment:
Oh yeah, one more thing.
Attempt #5 on the 4h Helsinki chart to break 60 RSI:
Attempt #5 on the 4h Helsinki chart to break 60 RSI:
Comment:
Okay, one more one more thing.
Very important thing, might I add.
Nokia attempted the past two weeks, for the third time, to break the ascending bi-weekly RSI bull trend line.
Tomorrow is the last day in this bi-weekly candle, and Nokia went from below all 3 important trend lines, to now back above them. Price is showing a large hammer, and is rejecting closing below the 200 bi-weekly moving average.
The next two weeks will be very crucial for Nokia as price has either confirmed the trend lines/2w MA for support, or it will finally close below them, ending the bullish momentum. If support has been confirmed, the next stop is the $6/$6.30 resistance/supply zone.
Very important thing, might I add.
Nokia attempted the past two weeks, for the third time, to break the ascending bi-weekly RSI bull trend line.
Tomorrow is the last day in this bi-weekly candle, and Nokia went from below all 3 important trend lines, to now back above them. Price is showing a large hammer, and is rejecting closing below the 200 bi-weekly moving average.
The next two weeks will be very crucial for Nokia as price has either confirmed the trend lines/2w MA for support, or it will finally close below them, ending the bullish momentum. If support has been confirmed, the next stop is the $6/$6.30 resistance/supply zone.
Comment:
Helsinki:
Daily volumes rising for the 4th straight day in a row.
Breakout of the bullish pennant.
Daily + Weekly closed out with very little top wick on strong volume.
Helsinki is showing a trend of lower highs on the bi-monthly time frame. Considering the consolidation period and my personal experience, this is *usually* a precursor to continuation. There is now a gap from resistance, however. Since I clearly don't know shit about trading, I guess its 50-50 whether Nokia continues upwards from here or retraces to the former resistance of the pennant to test for support.
NYSE:
Welp.
NYSE is showing a much different picture here. Helsinki closed the day +2.9% meanwhile NYSE closed the day -0.34%.
NYSE broke out of the bull pennant, but did not manage to close above it like Helsinki did.
The high today before profit-taking/rejection was $5.89 which is 1 cent away from the current monthly high of $5.90.
Volume was still decent but less than it was yesterday. That daily candle looks like shit.
Not much else to say about the weekly, either.
Options volumes today were unsurprisingly mediocre. A lot of contracts expired out of the money:
ibb.co/y5wSLg7
Other than next weeks 11/26 $6 contracts expiration, there isn't really much else on the options chain until 12/17. On that date, a large amount of $5 and $6 strike prices expire. Other than that, from here on out there are barely any far OTM call contracts expiring until 1-21-22:
11/26:
ibb.co/CW7zGTs
12/03:
ibb.co/hRypB0x
12/10-12/17:
ibb.co/5M6WbMd
1/21/22:
ibb.co/4JvKxpY
I personally picked up some 12/17 $6 calls and a good amount of 11/26 $6 calls right before this 3 day rally. Aside from the 12/17 contracts, the 11/26 contracts have barely moved. I'm honestly surprised at that but Nokia does have a strong history of low implied volatility. There will need to be a significant movement upwards next week in order for my 11/26 $6 calls to turn a profit. Considering the gap on Helsinki and the fact that the NYSE didn't even close above the pennant resistance, well...
Have a good thanksgiving to anyone reading these updates.
Daily volumes rising for the 4th straight day in a row.
Breakout of the bullish pennant.
Daily + Weekly closed out with very little top wick on strong volume.
Helsinki is showing a trend of lower highs on the bi-monthly time frame. Considering the consolidation period and my personal experience, this is *usually* a precursor to continuation. There is now a gap from resistance, however. Since I clearly don't know shit about trading, I guess its 50-50 whether Nokia continues upwards from here or retraces to the former resistance of the pennant to test for support.
NYSE:
Welp.
NYSE is showing a much different picture here. Helsinki closed the day +2.9% meanwhile NYSE closed the day -0.34%.
NYSE broke out of the bull pennant, but did not manage to close above it like Helsinki did.
The high today before profit-taking/rejection was $5.89 which is 1 cent away from the current monthly high of $5.90.
Volume was still decent but less than it was yesterday. That daily candle looks like shit.
Not much else to say about the weekly, either.
Options volumes today were unsurprisingly mediocre. A lot of contracts expired out of the money:
ibb.co/y5wSLg7
Other than next weeks 11/26 $6 contracts expiration, there isn't really much else on the options chain until 12/17. On that date, a large amount of $5 and $6 strike prices expire. Other than that, from here on out there are barely any far OTM call contracts expiring until 1-21-22:
11/26:
ibb.co/CW7zGTs
12/03:
ibb.co/hRypB0x
12/10-12/17:
ibb.co/5M6WbMd
1/21/22:
ibb.co/4JvKxpY
I personally picked up some 12/17 $6 calls and a good amount of 11/26 $6 calls right before this 3 day rally. Aside from the 12/17 contracts, the 11/26 contracts have barely moved. I'm honestly surprised at that but Nokia does have a strong history of low implied volatility. There will need to be a significant movement upwards next week in order for my 11/26 $6 calls to turn a profit. Considering the gap on Helsinki and the fact that the NYSE didn't even close above the pennant resistance, well...
Have a good thanksgiving to anyone reading these updates.
Comment:
Seems like Nokia has been stair stepping fibs from the June-Aug swing upwards.
Helsinki-
After a successful test of monthly price trend line resistance, Nokia has also successfully stair-stepped support from the 0.786 fib to the 0.236 fib with good volume in a series of higher lows. So we have a pennant support, fib support, and 50 DMA support all being respected at the same time. A breakout has obviously also occurred with rising volumes:
Also... there's this:
NYSE-
Nokia on the NYSE fell below the monthly price trend line resistance, but after bouncing from the 0.786 had a swift recovery back above it. Price was rejected at the monthly pennant resistance, but had a double bottom at the 0.618 fib. The 0.618 also coincides with the monthly price trend line resistance and the huge 0.5 bullish retracement fib I've been talking about. On Friday, price was rejected at closing above the monthly pennant resistance, and closed 1 cent under the 0.382 fib.
NYSE is a cranky bastard. Hmm, I wonder why?
*cough* *cough*
ibb.co/CW7zGTs
ibb.co/5M6WbMd
ibb.co/4JvKxpY
*cough* *cough*
This is just a recap of what has been said last update. I just wanted to post that I am seeing Fibonacci is also showing major rising support for this rally. It's interesting to me how absurdly parrallel price action runs in Helsinki and NYSE until OTM contracts start getting near ITM. Then, suddenly, NYSE does its best to reverse all progress made. It truly seems lately that the Fins want Nokia to go up while Americans want to keep it down to profit off of call options. Which is very strange considering how high Nokia went in January on the NYSE compared to Helsinki.
I just don't get this asset. 4 Earnings beats in a row with rising stockpiles of cash + rising profits YoY. Consistently landing new contract after new contract, the latest being an important partnership with Chinese telecoms. It has healthily climbed and successfully tested every major diagonal price + rsi trend line. It very recently successfully tested the very last massive monthly diagonal. At the same time successfully held the mid-line of a multi year ascending channel. It is forming a pennant with the apex being very, very near. It is above EVERY significant moving average all the way up to the 3 month time frame. A weekly 50+100 MA golden cross, with a 50+200 cross nearing. CMF indicator (check it out for yourself) is indicating accumulation. StochRSI is indicating accumulation. Decade long inverted HS pattern that Nokia finally broke above the neckline on.
what the fug man
Helsinki-
After a successful test of monthly price trend line resistance, Nokia has also successfully stair-stepped support from the 0.786 fib to the 0.236 fib with good volume in a series of higher lows. So we have a pennant support, fib support, and 50 DMA support all being respected at the same time. A breakout has obviously also occurred with rising volumes:
Also... there's this:
NYSE-
Nokia on the NYSE fell below the monthly price trend line resistance, but after bouncing from the 0.786 had a swift recovery back above it. Price was rejected at the monthly pennant resistance, but had a double bottom at the 0.618 fib. The 0.618 also coincides with the monthly price trend line resistance and the huge 0.5 bullish retracement fib I've been talking about. On Friday, price was rejected at closing above the monthly pennant resistance, and closed 1 cent under the 0.382 fib.
NYSE is a cranky bastard. Hmm, I wonder why?
*cough* *cough*
ibb.co/CW7zGTs
ibb.co/5M6WbMd
ibb.co/4JvKxpY
*cough* *cough*
This is just a recap of what has been said last update. I just wanted to post that I am seeing Fibonacci is also showing major rising support for this rally. It's interesting to me how absurdly parrallel price action runs in Helsinki and NYSE until OTM contracts start getting near ITM. Then, suddenly, NYSE does its best to reverse all progress made. It truly seems lately that the Fins want Nokia to go up while Americans want to keep it down to profit off of call options. Which is very strange considering how high Nokia went in January on the NYSE compared to Helsinki.
I just don't get this asset. 4 Earnings beats in a row with rising stockpiles of cash + rising profits YoY. Consistently landing new contract after new contract, the latest being an important partnership with Chinese telecoms. It has healthily climbed and successfully tested every major diagonal price + rsi trend line. It very recently successfully tested the very last massive monthly diagonal. At the same time successfully held the mid-line of a multi year ascending channel. It is forming a pennant with the apex being very, very near. It is above EVERY significant moving average all the way up to the 3 month time frame. A weekly 50+100 MA golden cross, with a 50+200 cross nearing. CMF indicator (check it out for yourself) is indicating accumulation. StochRSI is indicating accumulation. Decade long inverted HS pattern that Nokia finally broke above the neckline on.
what the fug man
Comment:
Comment:
Hmm. On the NYSE, Nokia has been ranging above and below the 50 DMA.
Todays close looks like it is about to reject closing below it, and on good volume.
Helsinki is showing something ... intriguing.
Today, Nokia broke back below the pennant resistance, but closed directly above it.
Hmm...
Todays close looks like it is about to reject closing below it, and on good volume.
Helsinki is showing something ... intriguing.
Today, Nokia broke back below the pennant resistance, but closed directly above it.
Hmm...
Comment:
This is what I see on Helsinki:
This is what I see on NYSE:
Helsinki has broken out of the pennant and today tested it successfully.
NYSE is nowhere near breaking out of the pennant but today had a long legged doji.
According to candlestick analysis and personal experience, the long legged doji often signals a reversal in the short-term:
static.incrediblecha...candle_dragonfly.png
www.incrediblecharts...lestick-patterns.php
bruh.
HOW do you look at these charts for Nokia and come up with ANY good reasons for why this hasn't had a substantial breakout yet?
HOW!?
This shit is crazy
This is what I see on NYSE:
Helsinki has broken out of the pennant and today tested it successfully.
NYSE is nowhere near breaking out of the pennant but today had a long legged doji.
According to candlestick analysis and personal experience, the long legged doji often signals a reversal in the short-term:
static.incrediblecha...candle_dragonfly.png
www.incrediblecharts...lestick-patterns.php
bruh.
HOW do you look at these charts for Nokia and come up with ANY good reasons for why this hasn't had a substantial breakout yet?
HOW!?
This shit is crazy
Comment:
I'm looking at this count and I would swear it's spot on or very close to it:
Anddd did Nokia just finish the very first subwave of the next impulse, or am I crazy?
Fibonacci shows what I believe to be a full and correct ABCDE retracement, unless it's something more like THIS?:
Either way, Nokia is and has been coiling in a symmetrical triangle.
WHY is this asset still in the $5.50-$5.90 range!?
wtf am I missing!?
Anddd did Nokia just finish the very first subwave of the next impulse, or am I crazy?
Fibonacci shows what I believe to be a full and correct ABCDE retracement, unless it's something more like THIS?:
Either way, Nokia is and has been coiling in a symmetrical triangle.
WHY is this asset still in the $5.50-$5.90 range!?
wtf am I missing!?
Comment:
An interesting discovery on 10/28:
Hourly:
Why do I get the feeling Nokia was in the process of finally breaking out of this range after the ER on 10/28?
6 Straight hours of Nokia attempting to hold support above the pennant after gapping above it, but then gets stuffed on a sizable 5.5% drop.
Somebody doesn't want Nokia going up. WHY
PEKKA, is that you doing this so you can do the eventual buyback on the cheap or wut? wtf?
Hourly:
Why do I get the feeling Nokia was in the process of finally breaking out of this range after the ER on 10/28?
6 Straight hours of Nokia attempting to hold support above the pennant after gapping above it, but then gets stuffed on a sizable 5.5% drop.
Somebody doesn't want Nokia going up. WHY
PEKKA, is that you doing this so you can do the eventual buyback on the cheap or wut? wtf?
Comment:
Hope everyone has/had a great Thanksgiving!
Tomorrow will be interesting to watch..
Tomorrow will be interesting to watch..
Comment:
WELP. Today was quite the drop..
Is this a Head and Shoulders pattern plowing through the neckline, right as the 50 and 200 WMA's have a golden cross on Helsinki?
OR will the 200 bi-weekly moving average hold again?
If that is a Head and Shoulders pattern ready to complete, 1/21/22 OTM expirations are pretty much screwed.
WELP. Today was quite the drop..
Is this a Head and Shoulders pattern plowing through the neckline, right as the 50 and 200 WMA's have a golden cross on Helsinki?
OR will the 200 bi-weekly moving average hold again?
If that is a Head and Shoulders pattern ready to complete, 1/21/22 OTM expirations are pretty much screwed.
Comment:
Forgot to mention a few important talking points.
Nokia on the NYSE did manage to close above the 0.5 bullish retracement Fib from the swing high in late 2014.
It also wicked into, but closed above the major monthly trend line resistance.
It came very close to touching the mid line of the ascending channel as well.
The next few weeks will be very telling and crucial for a continuation of bullish momentum.
History over the past few months would dictate that next week Nokia should have a relief rally from this huge dump.
The bi-weekly RSI trend of rising lows is currently in danger of breaking, but on 4 different occasions that situation has been rejected. Currently there is one week left on this bi-weekly candle, so next week Nokia needs to close at or above $5.80 to keep this trend line intact.
I just have to WONDER. What will happen?
Nokia on the NYSE did manage to close above the 0.5 bullish retracement Fib from the swing high in late 2014.
It also wicked into, but closed above the major monthly trend line resistance.
It came very close to touching the mid line of the ascending channel as well.
The next few weeks will be very telling and crucial for a continuation of bullish momentum.
History over the past few months would dictate that next week Nokia should have a relief rally from this huge dump.
The bi-weekly RSI trend of rising lows is currently in danger of breaking, but on 4 different occasions that situation has been rejected. Currently there is one week left on this bi-weekly candle, so next week Nokia needs to close at or above $5.80 to keep this trend line intact.
I just have to WONDER. What will happen?
Comment:
Nokia is still (barely) above the nearly 18 year long monthly pivot point in the RSI. Ideally, the monthly close on Tuesday will hold above this support. Price is also situated above the 7 year price resistance as well:
The current range resides between $5.39, and $5.90. ANY break of these prices whatsoever will likely instantly shift momentum, as the monthly is currently showing a symmetrical triangle/bullish pennant formation:
The bi-weekly picture isn't great. Nokia will have to rally back up above $5.80 by Friday in order to keep the ascending diagonal support trend line intact. Luckily, there is also the horizontal support at just under 60 RSI, and the 200 bi-weekly moving average that *should* cause a relief rally:
Unfortunately, the weekly also shows what could be a grim picture in the RSI.
Although price closed above the monthly resistance on lowering volume, the RSI is showing many different attempts to break above that 17 year trend line shown above. The most recent rejection causing a break of the short-term RSI local lows. TECHNICALLY speaking, this is actually a slight hidden bullish divergence because price lows are rising while RSI lows are going lower:
As shown previously, this is what the daily shows:
Although the dump on 'Black Friday' was quite strong, there is a good chance it was to hunt for liquidity. It is meant to kick traders out of their position that have tight stops right before an important inflection point. This is something I've seen many times but is not necessarily guaranteed. The overall technicals have not (yet) closed under the most important support zones though, so I still retain my thinking that Nokia will have a decent if not large year-end rally within the next month/month and a half.
The most important things to watch for over the next week will be:
-Any break whatsoever of $5.39 or $5.90.
-The monthly close on Tuesday. Especially if it closes below $5.39.
-Whether or not Nokia can rally back up and close above the ascending support line in the 2w RSI by Friday.
The current range resides between $5.39, and $5.90. ANY break of these prices whatsoever will likely instantly shift momentum, as the monthly is currently showing a symmetrical triangle/bullish pennant formation:
The bi-weekly picture isn't great. Nokia will have to rally back up above $5.80 by Friday in order to keep the ascending diagonal support trend line intact. Luckily, there is also the horizontal support at just under 60 RSI, and the 200 bi-weekly moving average that *should* cause a relief rally:
Unfortunately, the weekly also shows what could be a grim picture in the RSI.
Although price closed above the monthly resistance on lowering volume, the RSI is showing many different attempts to break above that 17 year trend line shown above. The most recent rejection causing a break of the short-term RSI local lows. TECHNICALLY speaking, this is actually a slight hidden bullish divergence because price lows are rising while RSI lows are going lower:
As shown previously, this is what the daily shows:
Although the dump on 'Black Friday' was quite strong, there is a good chance it was to hunt for liquidity. It is meant to kick traders out of their position that have tight stops right before an important inflection point. This is something I've seen many times but is not necessarily guaranteed. The overall technicals have not (yet) closed under the most important support zones though, so I still retain my thinking that Nokia will have a decent if not large year-end rally within the next month/month and a half.
The most important things to watch for over the next week will be:
-Any break whatsoever of $5.39 or $5.90.
-The monthly close on Tuesday. Especially if it closes below $5.39.
-Whether or not Nokia can rally back up and close above the ascending support line in the 2w RSI by Friday.
Comment:
Comment:
The horizontal trend line in the 2w RSI from the original idea did end up holding as support, even though there ended up being a slight close below it:
On 12/7, the daily broke above the diagonal price trend line (*potential* neckline) as well. On 12/8, Nokia retraced to and tested the trend line but closed above it. For the past 7 days in a row, price has held above that price trend line in a series of micro higher highs and higher lows:
Also, I would like to point something out about the 'path' I drew in the RSI to display what I believed to be a support + resistance flip:
The path that I drew ended on the close of the 11/22 bi-weekly candle. Aka 12/6. That day, Nokia gapped down on the open slightly, and dropped to a low of $5.52. During the trading session however, there was a swift recovery back upwards to close the day +0.53% or +$0.03. The candle that day ended up closing as a bullish hammer:
Then? On 12/7, the day after, Nokia proceeded to rally and closed +$0.21 or +3.69% for the day:
lol. someone is having fun it seems.
meems. :c
Welp. Today, Nokia closed at $6.13, and is so far up 8.3% for the 2 week trading session. There are 2 days to go yet so anything can happen. Price did just break out of a bull flag to the upside today, though. Nearest support *should* now be between $5.90 and $6.00. The nearest resistance being ~$6.30, or the 0.618 bullish fib retracement/50 moving average on the 3 month time frame.
So we're looking at a monthly bull pennant break to the upside on good and steadily increasing volume. A hold of a crucial bi-weekly RSI support. Bullish engulfing price candle on the bi-weekly. A break of a daily bull flag. Micro higher highs and lows thus far. Also above every single important moving average from the daily time frame all the way to the 2 month time frame. As stated earlier, the only moving average Nokia has yet to cross is the 3 month, 50 moving average. Considering that resistance has been tapped once already, it could be rejected right away upon arrival or it may just blow right through it if there's enough volume.
Still wondering what will happen with all that significant call open interest for 1/21.
The $5 calls are in the money currently, and the open contracts went from an ATH of a little over 260,000 to currently 235,000.
The $7 calls went from an ATH of 260,000 open contracts to currently 248,000. There was recently a decent dip in the open interest of these contracts, but a few days ago the OI spiked back to where it dropped from and then some.
The $10 calls went from an ATH of 357,000 open contracts to currently 310,000.
I recently learned you can copy and paste outside images into your charts rather than having to link externally to them! Here's the open interest for Nokia calls expiring on 1/21, along with the open interest changes recently in the $5, $7, and $10 contracts:
gas whale c what happens from here.
On 12/7, the daily broke above the diagonal price trend line (*potential* neckline) as well. On 12/8, Nokia retraced to and tested the trend line but closed above it. For the past 7 days in a row, price has held above that price trend line in a series of micro higher highs and higher lows:
Also, I would like to point something out about the 'path' I drew in the RSI to display what I believed to be a support + resistance flip:
The path that I drew ended on the close of the 11/22 bi-weekly candle. Aka 12/6. That day, Nokia gapped down on the open slightly, and dropped to a low of $5.52. During the trading session however, there was a swift recovery back upwards to close the day +0.53% or +$0.03. The candle that day ended up closing as a bullish hammer:
Then? On 12/7, the day after, Nokia proceeded to rally and closed +$0.21 or +3.69% for the day:
lol. someone is having fun it seems.
meems. :c
Welp. Today, Nokia closed at $6.13, and is so far up 8.3% for the 2 week trading session. There are 2 days to go yet so anything can happen. Price did just break out of a bull flag to the upside today, though. Nearest support *should* now be between $5.90 and $6.00. The nearest resistance being ~$6.30, or the 0.618 bullish fib retracement/50 moving average on the 3 month time frame.
So we're looking at a monthly bull pennant break to the upside on good and steadily increasing volume. A hold of a crucial bi-weekly RSI support. Bullish engulfing price candle on the bi-weekly. A break of a daily bull flag. Micro higher highs and lows thus far. Also above every single important moving average from the daily time frame all the way to the 2 month time frame. As stated earlier, the only moving average Nokia has yet to cross is the 3 month, 50 moving average. Considering that resistance has been tapped once already, it could be rejected right away upon arrival or it may just blow right through it if there's enough volume.
Still wondering what will happen with all that significant call open interest for 1/21.
The $5 calls are in the money currently, and the open contracts went from an ATH of a little over 260,000 to currently 235,000.
The $7 calls went from an ATH of 260,000 open contracts to currently 248,000. There was recently a decent dip in the open interest of these contracts, but a few days ago the OI spiked back to where it dropped from and then some.
The $10 calls went from an ATH of 357,000 open contracts to currently 310,000.
I recently learned you can copy and paste outside images into your charts rather than having to link externally to them! Here's the open interest for Nokia calls expiring on 1/21, along with the open interest changes recently in the $5, $7, and $10 contracts:
gas whale c what happens from here.
Comment:
Comment:
Aside from this:
There is also this:
The weekly 9 + 21 moving averages also line up pretty much perfectly with the channel resistance:
Monthly 9 moving average has this month also met with price action as well:
Weirdly symmetrical volumes on the monthly the past 5 months.
Hmmm.
There is also this:
The weekly 9 + 21 moving averages also line up pretty much perfectly with the channel resistance:
Monthly 9 moving average has this month also met with price action as well:
Weirdly symmetrical volumes on the monthly the past 5 months.
Hmmm.
Comment:
WEIRD.
WEIRD.
Comment:
Welp. Nokia did indeed surpass the major 0.618 bullish retracement zone.
It has now retraced back to that zone. We'll see what happens from here..
Welp. Nokia did indeed surpass the major 0.618 bullish retracement zone.
It has now retraced back to that zone. We'll see what happens from here..
Comment:
What wins?
3x Weekly hidden bullish divergences in a row with a successful breakout of a monthly bull pennant:
Or
Large weekly bearish divergence, with price sitting just directly under a major, major pivot point?
15 Trading days to go until the giant open interest on the 1/21 options chain expires.
I still believe but 15 days ain't much..
3x Weekly hidden bullish divergences in a row with a successful breakout of a monthly bull pennant:
Or
Large weekly bearish divergence, with price sitting just directly under a major, major pivot point?
15 Trading days to go until the giant open interest on the 1/21 options chain expires.
I still believe but 15 days ain't much..
Comment:
RIP
Comment:
Today, Nokia on the NYSE is currently at $6.13. It is a holiday on the Helsinki stock exchange.
Yesterday, Nokia on the Helsinki exchange closed +1.28%, meanwhile the NYSE closed -1.76%. Currently on the NYSE, Nokia is still -0.24% which means in total the NYSE is trading at roughly a 2% discount compared to Helsinki.
At the current exchange rate, Nokia being valued at 5.613 Euros on the Helsinki exchange means that the NYSE *should* be trading at around $6.34.
Something isn't adding up here. I also checked Finviz to see what it is showing. Prior to yesterday/today, it was showing a breakout of the monthly bull pennant. Today, it is showing a double top warning indication:
i.postimg.cc/jjfTNrXY/Finviz.png
Yesterday, Helsinki held and bounced upwards off the 9 day moving average:
Upon the opening of the NYSE yesterday, Nokia temporarily followed right along with Helsinki. In the first hour ish of trading Nokia went as high as roughly +1.4%, thus the 9 day moving average was holding. Very shortly thereafter, somebody apparently decided they wanted Nokia to drop instead. Instead of holding the 9 day moving average like Helsinki did, Nokia on the NYSE dropped to the 21 day moving average. Today Nokia opened gapped down below the 21 day moving average, but is so far barely holding above it:
With 11 days to go until the gigantic 1/21 options chain expires, one simply has to wonder. Will the vast majority of all those calls actually expire worthless? I still hold belief that there is something large that will happen prior to then but with the current price action that belief is declining by the day. Doesn't help that Finviz is showing a potential double top, but that doesn't actually count until if Nokia breaks below $5.27.
Even if Nokia does end up making it to $7 by then, the calls I have won't gain much unless it is an exceptionally quick and large pop upwards. Not looking good right now. :(
Yesterday, Nokia on the Helsinki exchange closed +1.28%, meanwhile the NYSE closed -1.76%. Currently on the NYSE, Nokia is still -0.24% which means in total the NYSE is trading at roughly a 2% discount compared to Helsinki.
At the current exchange rate, Nokia being valued at 5.613 Euros on the Helsinki exchange means that the NYSE *should* be trading at around $6.34.
Something isn't adding up here. I also checked Finviz to see what it is showing. Prior to yesterday/today, it was showing a breakout of the monthly bull pennant. Today, it is showing a double top warning indication:
i.postimg.cc/jjfTNrXY/Finviz.png
Yesterday, Helsinki held and bounced upwards off the 9 day moving average:
Upon the opening of the NYSE yesterday, Nokia temporarily followed right along with Helsinki. In the first hour ish of trading Nokia went as high as roughly +1.4%, thus the 9 day moving average was holding. Very shortly thereafter, somebody apparently decided they wanted Nokia to drop instead. Instead of holding the 9 day moving average like Helsinki did, Nokia on the NYSE dropped to the 21 day moving average. Today Nokia opened gapped down below the 21 day moving average, but is so far barely holding above it:
With 11 days to go until the gigantic 1/21 options chain expires, one simply has to wonder. Will the vast majority of all those calls actually expire worthless? I still hold belief that there is something large that will happen prior to then but with the current price action that belief is declining by the day. Doesn't help that Finviz is showing a potential double top, but that doesn't actually count until if Nokia breaks below $5.27.
Even if Nokia does end up making it to $7 by then, the calls I have won't gain much unless it is an exceptionally quick and large pop upwards. Not looking good right now. :(
Comment:
Weekly held 60 RSI and has so far bounced upwards from it.
Price hit a micro higher low as well.
Is Nokia going to punch through the $6.30 resistance zone again with force or is it just going to go sideways/down from here?
Helsinki had a rather strange day today as well.
Opened gapped up by +3.14%, hit as high as +5.87%, then finished the day -0.26%:
This all came off the heels of Nokia releasing information that they expect to exceed forward year guidance for 2021.
Price hit a micro higher low as well.
Is Nokia going to punch through the $6.30 resistance zone again with force or is it just going to go sideways/down from here?
Helsinki had a rather strange day today as well.
Opened gapped up by +3.14%, hit as high as +5.87%, then finished the day -0.26%:
This all came off the heels of Nokia releasing information that they expect to exceed forward year guidance for 2021.
Comment:
Comment:
lol
here we go again
Comment:
RIP 1/21 $6 and above calls
xd manipulation strikes again
xd manipulation strikes again
Comment:
Hmm.
All hope has pretty much been lost of a 1/27/21 event happening again by 1/21/22 .. BUT.
NYSE closed +0.68% for the day while Helsinki closed -2.34%
Also, NYSE came very very close to re-testing the monthly pennant resistance today..
Hmm.
All hope has pretty much been lost of a 1/27/21 event happening again by 1/21/22 .. BUT.
NYSE closed +0.68% for the day while Helsinki closed -2.34%
Also, NYSE came very very close to re-testing the monthly pennant resistance today..
Comment:
Comment:
6/18 wins again.
6/18 wins again.
Comment:
Typical Nokia fashion to have a bull flag followed by a fat breakdown, only this one was a 5 month long consolidation period. In a matter of only 4 weekly candles, 5 months worth of price movement evaporated.
I don't think I will ever touch this shit again.
later
Typical Nokia fashion to have a bull flag followed by a fat breakdown, only this one was a 5 month long consolidation period. In a matter of only 4 weekly candles, 5 months worth of price movement evaporated.
I don't think I will ever touch this shit again.
later
Comment:
FWIW, now that I'm flat broke after my $7 call options expired worthless on the 21st, I am fully, fully expecting Nokia to finally begin that gigantic wave 3. If it doesn't, I'd be quite surprised.
Comment:
lol
lol
The RSI trend line shown in this idea on the 2 week time frame started around 6/19/2017.
Since then, there have been 5 attempts to get above it with the most recent attempt in April being successful.
It has taken almost 4 entire years to close above that trend line.
Since closing above it, Nokia is now on the 3rd test of support. Price is currently $5.70, or $0.16 above the 0.5 Fib retracement. Nokia has this bi-weekly candle and the next one to hold this trend line/zone. If support successfully holds, then in theory there should be another attempt at the $6.29, 0.618 zone. I find chances very low that the 0.618 holds again if price gravitates back toward it, especially if there is finally volume.
There are a few rather interesting things to note in regards to moving averages. On the 3 month time frame, the 50 moving average happens to coincide perfectly with the 0.618 Fib retracement:
On the 2 month time frame which closes in just a few days, Nokia is *roughly* holding it, but is currently $0.04 below it:
Be on the lookout for the $6.29 zone. Any real volume showing up prior to it will be an early indicator of a rocket launch.