Hi,
As Nokia has got an extra tailwind now winning a NASA contract for setting up a lunar 4G networks, we might see Nokia targeting a $5.00 per share level again this year.
Now the price has broken out from a symmetrical triangle (red and pale solid lines) targeting a major resistance level at $4.50 per share. As an alternative view, the price has been forming an ascending triangle (see a red dashed resistance) line and is likely to bounce back to $4.26 per share level.
MACD also suggests the price has got an uptrend momentum.
Either way, $4.26 per share looks like a good entry level for a long position with a short-term target $4.50 per share.
As Nokia has got an extra tailwind now winning a NASA contract for setting up a lunar 4G networks, we might see Nokia targeting a $5.00 per share level again this year.
Now the price has broken out from a symmetrical triangle (red and pale solid lines) targeting a major resistance level at $4.50 per share. As an alternative view, the price has been forming an ascending triangle (see a red dashed resistance) line and is likely to bounce back to $4.26 per share level.
MACD also suggests the price has got an uptrend momentum.
Either way, $4.26 per share looks like a good entry level for a long position with a short-term target $4.50 per share.
Trade closed: stop reached:
NOK was not able to break 4.30 level and return to a major support at $4.00.