Wednesday, March 23, 2016

Annual Trading Forecast on Nokia (2016)

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

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