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*** These days I post my charts/thoughts on http://www.stocktwits.com under the same user name BreakoutTrader *** "Charts are worth a million words." - Ralph Acampora "Having learned what folly I was capable of, I closed that particular incident." - Reminiscences of a Stock... More
  • NOK Nokia: Turning Around ? 2 comments
    Feb 26, 2012 9:44 AM | about stocks: NOK
    NOK had a good day Friday (2/24), up 4.7% with huge
    volume on news to be announced next Monday. S&P 500
    index was up 0.2% today. QQQ was up 0.3%.

    Since I last wrote about NOK on 12/26/2011, NOK has traded
    in a range between $4.90 and $5.80 area most of the
    time. One encourging sign during this period is there were
    many gaps, but NOK was able to fill those gaps and
    broke above the range with today's high of $5.87, above
    the previous high of $5.78 on 1/19.

    The following daily chart shows NOK has been stronger than
    the broader market SPX since 2/14 (green dots on the second
    pane) and started an uptrend on 2/17 (green up bar on first
    pane). It also shows NOK finally came up and touched the
    downtrend channel on 2/21 and broke above the channel
    today.

    A small uptrend channel was drawn today, based on 12/19/2011
    low. This is the uptrend NOK may follow and is worth while
    to pay attention to.

    Momentum, volatility, and volume on the daily chart have also
    gone up recently.

    The following weekly chart shows NOK outperformed market
    S&P 500 index this week for the first time since the week of 11/21/2011. Momentum and volatily on the weekly chart are also turning up, but volume is about the same as last week.However,
    the weekly trend has not turned up yet. It is in a neutral with
    down bias state (yellow down bars), signaling NOK is still in a
    down/trading range for intermediate terms.

    20120224_NOK_Weekly

    It appears NOK is trying to turn around and the low of
    $4.46 made on 12/19/2011 may even be the low for several
    months to come.

    Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in NOK over the next 72 hours.

    Stocks: NOK
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Comments (2)
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  • Content seeker
    , contributor
    Comments (103) | Send Message
     
    If it wasn't for everyone on the street, TV & radios shows alike all hyping Apple at every chance, Nokia would be over 6 and approaching 7. Then large institutional investors would be forced to start buying up NOK, pushing it to the teens. It seems like these folks on TV and Radio such as Smart Money talk day and night about Apple because they are not doing their homework. It safe and convenient to utter Apple on "every show". The other night I counted the use of the word apple 7 times within 2 minutes. Cut me a break, talk about a broken record. Start doing your research, so that we can be enlightened about other companies. Make the playing field fair. Let's face it other companies put out good competing products and what I am reading Nokia is ahead of the curve. If Microsoft bought Nokia, then Apple would have some kick-ass competition, which we all want.
    28 Feb 2012, 09:12 PM Reply Like
  • BreakoutTrader
    , contributor
    Comments (36) | Send Message
     
    Author’s reply » Take a look at 1-hour chart. NOK's 1-hour price action
    on Monday and today were not encouraging ! Apparently
    investors/traders do not like what they heard from NOK
    on Monday's news.
    28 Feb 2012, 10:10 PM Reply Like
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