TheTravel1ngTrader

NOKIA ($NOK) gearing up for big move? πŸ“ˆπŸš€ Penny stock breakout?

Long
NYSE:NOK   Nokia Corporation Sponsored
$NOK is forming a rounding accumulation pattern with a bullish MACD crossover and an upward-trending RSI. The OBV (on balance volume) is also looking to break out with the same rounding accumulation pattern.

From a fundamental standpoint, $NOK has actually been fairly active on the contractual front. It recently picked up a few 5G contracts from large operators like Telenet in Belgium, A1 in Austria, and Orange. It has also signed a partnership with Microsoft ($MSFT) to develop private wireless products specifically designed for enterprises.

$NOK could fairly easily break to the $4.75 - $5 range fairly soon, barring an overall market retracement.

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.