Nokia stock (NYSE:NOK) is not an attractive thing at the
present. The price consolidated from November 2015 to January 2016 and then
gapped down massively at the start of February. Since then, the price has moved
sideways.
The RSI period 14 remains under the level 50, showing the
weakness of the price, which oscillates between the Upper and Lower trendlines.
It is possible that the price would soon leave the confines of the trendlines,
and when it does, things would most probably be in favor of the bears.
Nokia is under a bearish pressure and irrespective of any
base the price might form, it is expected to go further south when a breakout
does occur.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
What Super Traders Don’t Want You To Know: Super Traders
Buy and sell Neteller here; get funded quickly: www.ituglobalfx.com.ng
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