Trading Ideas for Nokia Chart Technical for Potential Long
Analysis is based on chart pattern and fundamental of the company.
Technical:
Price is forming an inverted head and shoulder on monthly timeframe, Price also making a slow retracement towards the point of interest (left shoulder). Currently, price have shown a bullish momentum and making a new trough on weekly timeframe. We shall monitor if price breaks daily and weekly resistance level. This will be our confirmation for our entry when the price retraces.
Fundamental:
The company is expected to be launching a new flagship phone this year. This may be a good sentiment towards the company given branding of the company is already well exposed to the world. We shall monitor the earning reports from this new launch.
Technical:
Price is forming an inverted head and shoulder on monthly timeframe, Price also making a slow retracement towards the point of interest (left shoulder). Currently, price have shown a bullish momentum and making a new trough on weekly timeframe. We shall monitor if price breaks daily and weekly resistance level. This will be our confirmation for our entry when the price retraces.
Fundamental:
The company is expected to be launching a new flagship phone this year. This may be a good sentiment towards the company given branding of the company is already well exposed to the world. We shall monitor the earning reports from this new launch.
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