HM

Prescient Nokia Analyst Turns Bullish on the Stock

Near term, NOK confirmed my worst suspicions. A break below $24.00 puts NOK into the dangerous position of potentially returning to trading within the sideways stretch between 2002 and 2007.

Doesn't look good.

Prescient Nokia Analyst Turns Bullish on the Stock

We might see NOK bounce back up to the $31.00 level at best. I simply don't see Toro's bullish bias here. I remain decidely bearish in the near term. Should have sold at $39.00 when my discipline said to do so.

Disclosure - I own 5,000 shares of NOK basis $14.00.