Nokia Shares to Dive Again

PUBLISHED: 26 Mar 2014 @ 08:44 | Comments (4) | More info about Azeez Mustapha

Nokia shares (NYSE:NOK) have been bearish: they are expected to dive further southward as confirmed by the technical analysis signal below. Occasional rallies have been followed by further southward moves. The market tempts the bull to think that the bearish era is over, only to correct lower. It is like giving food to charity and adding some laxative to it.

The price is currently below the EMA 21, preparing to trend more southward. The Williams’ % Range period 20 is already in the oversold region, showing the weakness of the stock. While there may be some northward pulls, the shares would dive again.

Conclusion: The price on Nokia may test the demand zones at 7.0 and 6.5 respectively. Avarice and dread showcase the carefulness and euphoria on the trading instrument. That is exactly what is happening in this market.

This forecast is ended with the quote below:

“Of the new people who start trading today so many have no clue of the learning curve. I mean this is a steep mountain. You’ve got to be willing to really, really go through a lot of learning – and you learn by mistakes. You learn by getting sliced up by the markets. You don’t come in, have a hot three months, and say, “Man, I’ve got it figured out.” You learn when you realise, “Oh, I’ve been wrong eight trades in a row, and now I’m getting another signal.” – Peter Brandt (Source: www.tradersonline-mag.com)

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