Databased
Long

NOK Still Bullish

BATS:NOK   NOKIA CORP
688 2 1
NOK's recent upswing raises the obvious question - can we expect further upward movement. I believe the answer is yes.

Last weeks regression should have questioned the continuance of wave three, however the strong upward movements and the completion of the ABC regression seems to have instead signaled the end of wave V's and should allow us to continue upwards. Additionally, the MACD the bolliginer bands and the money flow index also look bullish . When a day closes entirely outside of the bolligner bands this can be a bullish signal and when the MACD's fast moving line aggressively crosses the slow moving line this can also create a bullish signal.
I did initially have one concern regarding volume , though after comparing it to the last few months up volume's I am not worried because yesterdays volume was very comparable to many other trend sustaining up days. Finally it was just disclosed that Goldman and Morgan Stanley             significantly ( http://seekingalpha.com/article/1023231-goldman-sachs-and-morgan-stanley-are-backing-the-truck-up-for-nokia-shares ).

-Databased
If you disagree or see something I missed please let me know
Rubens
3 years ago
you notice the high volume peak? distribution of this stock is just beginning
Reply
Databased
3 years ago
Good point. I didn't notice that. This should get interesting over the next few weeks.
Reply
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