Nokia hasnt been looking to good the past couple of years, but this all could change very fast. with the upcomming Q3 earnings release coming up this thursday and alot new 5G contracts in their pocket this could be the start of a big impulse wave up.
fundamentals:
# march 2015 can be seen as the beginning of a HUGE descending triangle with a fake bearish break out starting at september 2019. Nokia is currently being traded at that so important level and needs to be taken in order for this lookout to become truth. after that the level to watch is 4.3 as this would confirm the bullish breakout of the triangle. NOTE: descending triangles are normally bullish patterns, but trade carefully as their are some huge levels to conquer.
# Nokia has been a big factor in the 5G industry with over 125 contracts concerning 5G, with the expectations of 5G becoming bigger and bigger this would logically push nokia's shares higher and higher.
# the chart shows that the fibbonaci level 0.786 drawn from our last H/L was accepted as a support level (currently being traded in the golden pocket area which i didnt draw to clear the chart a bit )
If we manage to break the golden pocket area upwards these are the level to watch and possibly take profit: TP 1: 4.30 TP 2: 4.97 TP 3: 6.59 TP 4: 7.82 TP 5: 8.45
Stop-Loss : between 3.2 - 2.7
Dont over leverage! Trade safely and do your Risk Management !
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Trade active
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Trade active
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so far its still all going according to plan. still a LONG TERM buy.
@Popeson, hopefully i helped you make some money !
KBSMANYAM
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Could you pls share latest analysis if possible
CptWORLD
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@KBSMANYAM, as its a very big timeframe, some ups and downs can be expected. as far as i see it 0.786Fib catched the trend, which confirmes yet again that its honouring the levels.
The impulse wave scenario you present is in the right direction. It corresponds to the same scenario, which I have already in the past. It can be found in the un-updated weekly trend scenario. I still wonder about the peak that came at the end of November 2020 (predictive Nasa) at a price of 34.35 per share.
MikaWirtanen5c00c2a6ac7a49d0
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@KBSMANYAM, I will correct the previously mentioned high peak of course until 2019. The price at the top of your scenario of 8.55 is significant. New leadership changes seek sharpness and market leadership in certain areas rather than overall performance.