Tuesday, March 24, 2015

Annual Trading Forecast on Nokia (2015)

Nokia shares (NYSE:NOK) have formed what I can call a predictable channel in the market. Based on the price action for the past several months, one would need to use a swing trading approach for this market, selling at the peak and buying at the trough.

The indicators in the chart are currently nothing to go by. The ADX period 14 is below the level 20, while the DM+ is closely parallel with the DM- (there is no clear signal). The MACD default parameters, also gives a signal that is contrary to what the ADX is showing – both its histogram and signal lines are below the zero line.

It is better to stay away from this market, unless one is a short-term trader. This market is not currently favorable to position traders and investors. In future, a break below the support line at 7.00 would mean a great bearish continuation while a break above the resistance line at 9.0 will also mean a great bullish continuation. By then, there would have been a clean Bearish or Bullish Confirmation Pattern in the market.

It is an exaggeration to say that something is unprecedented.

This forecast is ended by the quote below:

“Feelings that come up during trading and life all have positive intentions. Successful people recognize these feelings, see their positive intention and address them proactively. Successful traders address frustrating losing positions by exiting them.” – Mike Melissinos

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Learn from the Generals of the Markets: Market Generals

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