Our original analysis www.tradingview.com/v/o1eS8MaV/ stated in part:
"Taken by itself, the technical pattern on the chart is a classic bottom with a follow through support at the first real pullback. Many unexpected huge moves have resulted from this pattern over the years. A factor in NOK's favor on the long side is the price action at the LT Swing Long entry range. It has been very aggressively bought immediately upon reaching the entry range and the Intraday Long has been bought at both tests of the entry range.
Keep in mind that although this published chart is on a 60 min time-frame, the levels shown are Weekly Chart levels and must be traded as such. Being such a low-priced stock is a factor in NOk favor for scalpers and Day traders, and we can be certain that there will be buyers at most long setups from this time forward until the LT Swing Long is definitively broken or reaches its' targets, which are not shown at this time."
Buyers have indeed entered at every pullback, the LT Swing Long has held, and there has been a huge move of 4x the original entry price.
With such a low-priced stock, it is not uncommon to see a larger move before any meaningful pullback occurs. There is a short being sold but not shown on chart.
"Taken by itself, the technical pattern on the chart is a classic bottom with a follow through support at the first real pullback. Many unexpected huge moves have resulted from this pattern over the years. A factor in NOK's favor on the long side is the price action at the LT Swing Long entry range. It has been very aggressively bought immediately upon reaching the entry range and the Intraday Long has been bought at both tests of the entry range.
Keep in mind that although this published chart is on a 60 min time-frame, the levels shown are Weekly Chart levels and must be traded as such. Being such a low-priced stock is a factor in NOk favor for scalpers and Day traders, and we can be certain that there will be buyers at most long setups from this time forward until the LT Swing Long is definitively broken or reaches its' targets, which are not shown at this time."
Buyers have indeed entered at every pullback, the LT Swing Long has held, and there has been a huge move of 4x the original entry price.
With such a low-priced stock, it is not uncommon to see a larger move before any meaningful pullback occurs. There is a short being sold but not shown on chart.
