NOKIA ---- The Power of EMA with fibonacci
EMA89 was broken - what's next?
I use EMA 13/34/89/144 indicator and RSI stochastic for this analysis. I've been use it for quite a while, and found it useful for my trend analysis. After significant optimism over at least 4 consecutive quarter, unfortunately the price trend has changed. EMA 13/34 dead crossed, continued with price drop below EMA89 with a low volume. Most likely will also drop further until EMA144.
Further we can see also open gap below ( mark with number 1, 2 and 3), which like it or not will be closed sooner or later. Unless there is significant move fundamentally, perhaps it will rebound technically.
I believe if NOKIA able to promote faster 5G Technology adoption, it will be a game changer for them, while at the same time they have strong competition from China vendors globally.
I use EMA 13/34/89/144 indicator and RSI stochastic for this analysis. I've been use it for quite a while, and found it useful for my trend analysis. After significant optimism over at least 4 consecutive quarter, unfortunately the price trend has changed. EMA 13/34 dead crossed, continued with price drop below EMA89 with a low volume. Most likely will also drop further until EMA144.
Further we can see also open gap below ( mark with number 1, 2 and 3), which like it or not will be closed sooner or later. Unless there is significant move fundamentally, perhaps it will rebound technically.
I believe if NOKIA able to promote faster 5G Technology adoption, it will be a game changer for them, while at the same time they have strong competition from China vendors globally.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.