Looks like NOKIA is ready for a major reversal under few conditions: Price must break above resistance downtrend line. Chances for a serious bullrun will rise if the breakout takes place inside greenest area. To confirm a bullish incentive we must look for reversal patterns on daily TF. Under these circumstances, for this scheme to work out, price must...
Updated version of previous scheme. Expecting decent correction relative to the rate of the recent growth.
PART OF EXPERIMENTAL SERIES OF RESEARCH WORKS INDEXING FRACTALS WITH FIBONACCI. Whole chart is tuned to golden ratio, check 0.618 of both directions. Hence, giving us multi-target matrix of PriceTime fabric based on critical points of fractal.
NOT A FINANCIAL ADVICE PART OF EXPERIMENTAL SERIES OF RESEARCH WORKS. INDEXING FRACTALS OF A CYCLE WITH FIBONACCI RATIOS.
It's time to think about finding a point of entry in this market condition. Further drop is a possibility. Hence, it's vital to focus on levels of potential wave C to be able to accumulate the particular stock as cheap as possible before serious bullish breakout.
This trading set will be used in the future to justify the best entry into $HPE.
NOT A FINANCIAL ADVICE Covering a case of further decline.
Focusing on resistance when rising and support zones at falling stage. Next breakout will determine the direction of mid-term price movement. We got to be careful here because US indices are overheated.
Map of Support/Resistance fibonacci system of targets in respect to the recent fractal of decline. MADE FOR MONITORING THE PRICE ACTION ONLY Reference idea:
Updated. Crossing above orange dashed line is a possibility to retrace further to 0.786, yet it plays role of local resistance when price touches it. Crossing below red line is a sign of reversal of the trend. Space between red and green area is a demand zone on lows and supply at highs. Psychological level is 1.18224. Be cautious at levels inbetween...
Reaching target of price range between 1.618 and 2 is a reversal signal Price crossing below red line would be a confirmation of reversal
Update Don't forget to zoom out to see the source of some vital lines and also for viewing hidden levels.
UPDATE of fractal configuration of $GE I had to make it so detailed. Market is panicking as a reaction to negative report, specifically about unsatisfying figure of Earnings Per Share. Eventually, it will make a decent pullback because of new fundamentals coming up.
Price breaking above red resistance line is the first sign of recovery. Price going deeper in greener demand area is the actual place of recovery. Though the nearest yellowish part of the chart is a local resistance. Price breaking out blue curved line is a confirmation of reversal. Common fractal is circled.
Gonna rocket with upcoming news on successful covid-19 vaccine tests. The more it stays side-trending in current levels, the more powerful pump will become, once price breaks out of curved triangular formation into safe range colored blue. Anyways, zoom out to see where the green support zone comes from, because it is based on key lowest parts of the chart.
GE is about to be fully recovered this year. Any decline is viewed as an opportunity of accumulation for long-term rewards. Source of "HIGH DEMAND AREA":