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NOK

USDNOK: Confirmed Bullish Butterfly at Structural Demand LineUSDNOK is sitting at the Demand Line of an Overall Bearish Ascending Broadening Wedge Pattern that happens to align with the 1.272-1.618 PCZ of a Bullish Butterfly; along with that, we have PPO Confirmation, RSI BAMM, and a MACD Bullish Crossing. Given the scenario, I can see this trying to retrace up 50-88.6% of the Harmonic Range before coming back down and confirming a partial rise, after which we will then possibly have to look for opposing Bearish signals.
Long
by RizeSenpai
USDNOK Can See More Weakness As Crude Tryign To FInd A SupportCrude oil is trying to stabilize ahead of the FED today, showing some interesting intraday recovery from around $67.00 per barrel. Can be a small impulse, but I want to see a steady recovery ehre and possibly a broken resistance line to make sure that w-x-y in E of (B) is completed. Also, the global oil supply fell 660k bpd in May on OPEC+ cuts, which can help to stabilize oil price going forward. With higher crude I like NOK. Keep in mind that crude oil and USDNOK, both traded south recently, but crude trying to stabilize now. If it closes higher today, then USDNOK can see much more weakness. Current bears on USDNOK are also acting impulsively so far. GH
by ew-forecast
2
Bed Bath and Beyond - Buy the Uncanny Valley and Delete RedditOne of the first things you might ask yourself with this call is "How did a bull get stuck in a washer and dryer?" The people who look more closely might ask "Why is this bull living out of a washer and a dryer?" The short answer to both of these questions is that the dude listened to Reddit. I say this in every post about memestocks, but Reddit isn't your friend. It isn't even social media. It's a social marketing and social influencing website masquerading as an organically-created and consensus-driven forum. Moreover, the Chinese Communist Party's Tencent took a big stake in it many years ago and it spreads all the worst trash of Marxist-Leninsm. Perhaps if Reddit had have collapsed in bankruptcy then the future would have been a lot brighter for several million young people. Too late for crying now, though. Scrolling through Reddit is the intellectual equivalent of eating eight or nine bags of potato chips everyday and then complaining that you're fat and girls don't want to marry you. There are two things Reddit is there for when it comes to trading. One is to condition you to feel that losing money, and a lot of it, is both normal and okay. It's not. If you're losing money trading, then you need to fix something, and fast, or just take your money and go buy yourself something nice with it, because you're obviously just gambling and are missing something fundamental in both your understanding and execution. Wanting to get rich, and quick, will do that. The second thing Reddit is there for is to indoctrinate your mind with pornography, socialism, Marxism, and atheism, and it happens all while you think you're reading the words and feelings of other people who are just like you. But they're not just like you. They're not even people. They're "professional" community organizers who are sitting in a cubicle referencing a flowchart pinned to its grey cushions collecting their $16 an hour and you can't figure it out because they told you that the very idea is a "conspiracy theory." Bed Bath is this company that sucks and is going bankrupt. Don't believe it? Just go to a store and ask yourself why you're there instead of on Amazon on your phone. That didn't stop BBBY from yielding 4 and 5 baggers if you happened to buy the bottom and sell the top (you didn't, Ken Griffin's trading desk did, though), and that's exactly the issue. So the story with BBBY is that Hudson Bay Capital and a bunch of other Wall Street money effectively put a $1 billion blood infusion into Bed Bath. This comes in the form of some convertible preferred stock that has a profitable floor of about 71 cents and a ceiling of about $3.61, according to Bloomberg . What's 500% among friends? That's what I always say. So, taking a look at Reddit, there's two really notable things on this stock: 1) In the last two weeks there's almost a total blackout on BBBY from the WallStreetBets pump-and-dump-to-dumb-money brigade. 2) The Bed Bath subreddit has desperate bulls looking for the "MOASS" (Mother of All Short Squeezes), despite it already doing it twice in quick succession (lol, shows you their entry is higher than $5 and $7, doesn't it?), and telling each other to quickly "DRS" (Direct Register, AKA put your BBBY in an off-exchange personal wallet) in an attempt to mess with the float to manipulate Hudson's equity position on their convertible contracts. After thinking about it for a while, I believe the blackout on BBBY on WSB is because the idea is to not attract the attention of retail buyers to the stock now that "everyone knows" BBBY is going bankrupt. In other words, the PR company and the people who pay the PR company, who manage Reddit's trading forums, don't want people to buy cheap. The BBBY forum is acting as mentally ill as it is because bag holders are feeling desperate and dosing a heavy stimpak of hopium. All of this leads us to believe that, despite the reversal pattern that the short-dumpster to $7 produced, a new all time low is incoming. After all, Hudson's risk is profitable above 71 cents, Bloomberg says. The ATL is 88 cents. This is 20%, by the way, and 20% is a lot. If you got a 20% move on the Nasdaq while holding a QQQ call you'd make like $4,000 a contract. The thing to understand is that smart money isn't like you are, who is eternally unhedged and emotionally unstable. Hudson is hedged and really couldn't care less if BBBY goes under 71 cents for a few days because they'll just buy more. And they have a strategy to profit from the plummet in the meantime. Of course they'll buy more. They obviously see a lot of upside to risk $1 billion on a bankrupt shitco retail chain that was trading at a 2-handle when they donated blood. So, what kind of upside is there? Well, frankly speaking, the upside is this weird double top left at $30 during the RYAN F'IN COHEN pump and dump last year: It might sound too good to be true, but look. BBBY short interest ending Jan. 13 and Jan. 31 are both twice as high as it was during the Cohen/Reddit retail rape. Moreover, according to the most recent institutional holdings filings dated 12/31, only nobody firms sold out of BBBY. While names like Bank of America and Barclays reduced their positions, bigger and more important names like Blackrock, Vanguard, Morgan Stanley, and Citadel increased their holdings. Did they not know BBBY was on the verge of bankruptcy and stood to get delisted like Party City just did? Of course they knew. They know what comes three and six months from now, too. A lot of the same big names decreased their holdings in Party City before the bankruptcy Another key factor is at Friday's close Bed Bath is only worth like $211 million in market cap. Even a 20 bagger is only $4 billion. A 20 bagger from <$1 is only $2 billion in MCap. For Bed Bath to go to $30 or $60 in the end requires some crazy fundamental thing, like perhaps Buy Buy Baby really does get split into its own stock, awarded to BBBY shareholders, and you get a Kodak 2020-style candle. It's hard to say, but if you buy at 60 cents and it goes to $2.4 and you sell it all, who really cares? Nobody except for Wall Street truly knows either what is going to happen or when it's going to happen. But for now, it seems to me that the thing that will generate the most alpha for the MMs is to dump BBBY under its $0.88c ATL, probably while Nasdaq and the indexes feign beartown and volatility goes up. This will cause capitulation from retail bag holders, because that's how retail does it, while the WSB brigade won't buy because they're not being told to buy. Imo, this is the idea of everything going on right now. So you can buy the really low prices. But there's a lot of risk. Maybe BBBY goes Chapter 11 and gets delisted and liquidated in receivership, though. Life is hard and you lose a lot, no matter how you want to gain. You still lose a lot. Buy a $0.6 handle and try to hold a winner to $30. I dare you. Frankly speaking, holding a winner is really hard. In some ways it's a lot harder than holding a loser. The way to do it, though, is if you can bag some multiples, is to sell a portion equal to your risk and let the freeroll run until the entire market at large is showing the warning signs of a crash. Then dump it all and never touch it again. So, stay safe, lawyer up, hit the gym, and most importantly, delete Reddit.
NASDAQ:BBBY
by LordWrymouth
40
Nokia - a sleeping giant?Nokia has been quiet for years - too quiet I suspect. You remember those old brick phones, the ones that were nearly indestructible, right? I have been watching Nokia off and on since March of last year, trying to find a decent entry point. This is an update to my original idea linked below. Due to Nokia's prior reputation, I have for nearly a year had a very strong hunch that it is soon to have a major break upwards. On Robinhood, there is a $7 call leap contract that expires 1/21/2022. It is currently trading for 16 cents. Around the end of October, the leap contract hit a low of 12 cents then had a fairly impressive rebound to higher than 21 cents. Currently, I am holding the largest position I have ever had in stocks. Specifically on Nokia, after I saw that it bottomed yet again at 12 cents. A lot of people would say going all in on one position is not smart, but I'm not a person that can pay attention to too many things/assets at once. Plus, the feeling I have about this stock is next to unbreakable, no matter what it does in the short term. Fundamentals aside, this is a chart analysis of why I believe Nokia is not just 'a' sleeping giant, but 'the' sleeping giant. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - This is a trend line in Nokia that I spotted which began on the week of February 20th, 2001. Nokia broke below this trend line with force between the weeks of April 19th, 2010, and April 26th, 2010. Since then, Nokia has failed to break above it for any significant amount of time until the week of May 22nd, 2017. Unfortunately Nokia was unable to hold mid-term support and on the week of October 23rd, 2017, had a significant ~20% drop. Nokia has battled with breaking and staying above this trend line since then, with every break below causing significant selling pressure. Interestingly, Nokia has an earnings report coming up on February 4th, 2021. Almost 20 years to the day that this trend began. I believe Nokia is fairly close to breaking above this trend line for good due to a few things I am seeing on the chart. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - When I check the RSI, I immediately notice multiple trends. The first one being Nokia significantly rejecting any value above 60. From the week of January 21st, 2014 to April 17th, 2017, Nokia did not stay above 60 RSI. Even the April 2017 break above was short lived. Also notice, that break above 60 RSI was likely caused by Nokia testing support at first the .618 Fib, then the .50 Fib. It then proceeded to have a longer-term triple top in price at the $6.4 resistance while the RSI was printing noticeably lower highs. The failure in 2019 to break above this resistance then began another major downtrend. This is the second trend I spotted in the RSI. This is also the second biggest justification I have for being so bullish on Nokia. Since entering overbought in late 2013, Nokia has failed at breaking above 60 RSI let alone 70 until the end of May, 2017. The May high in the RSI created a few different trend lines that Nokia has reacted very strongly to. Up until April 2020, the longest amount of time that Nokia's RSI has been able to spend above this resistance is approximately 2 months. On the week of April 20th, 2020, Nokia was able to break above this trend with force, and after 2 successful support tests has so far stayed above it. A much smaller and shorter-term trend line I noticed. Currently, Nokia is above it. When we go into the 3d chart, we can see that this trend line was rejected as resistance on October 19th after falling below it in late August. In late November, the RSI once again managed to break back above it. It successfully passed a support test and is currently attempting to test it once more to flip it from resistance into support. When we check the daily, however, there is something interesting to be seen. After briefly dipping below this trend line, the RSI had a decent rally back above it. We can see that this is the 3rd attempt to test for support. Should the next 3 day candle hold, this should cause another test of local resistance. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - And now, the MACD. The MACD has, in my opinion, been showing consistency over the past 10 years with a trend line of higher lows. With the exception of the drop from Covid, the major lows in the MACD have all been higher than the last. Even when the Covid drop happened, the MACD printed bullish divergence. The MACD histogram at the same time printed hidden bullish divergence. This caused Nokia to have a ~119% rally. We can also see that, currently, the MACD is above the higher lows trend line. Zooming out to the 1 month time frame, an interesting situation. After testing and rejecting the 0 line, the MACD printed what is so far a potential double bottom. A break above the 0 line will validate this scenario. There is also a slight bullish cross. The histogram has also flipped upwards, but not by a significant margin. The 2 month shows a few other interesting signals. The thing that catches my eye here is what seems to be very strong bullish divergence. The September 2020 price low is approximately 28% lower than the September 2016 low, yet the MACD is showing a higher low. Nokia is also attempting a bullish cross here after being rejected on the first attempt. Another key thing to note on this time frame in the MACD is the histogram, which appears to be showing sell momentum waning. Nokia attempted a bullish cross in the July 2020 2 month candle but was rejected, and is now yet again attempting another bullish cross. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Aisde from Nokia currently residing above the 20 year trend line, there are also multiple price patterns/signals presenting themselves. After Nokia dropped from the .5 Fib retracement, the price has been printing a potential bear flag. Nokia did however catch strong buying support on the 0.886 Fib, which is typically the absolute last stand for bulls to regain control. That Fib also coincided with the Covid market-wide selloff in March of 2020. After Nokia broke back above the 20 year trend line, it was also able to break a mid-term diagonal resistance. This resistance has been tested successfully for sure once, although most people would argue the gap was also potentially indicative of a successful support test. Within this bear flag, however, there are 3 different price structures indicating potential bullish pressure building. I do not hold much weight with price patterns anymore however as I have been burned one too many times by them, and/or fake breaks of them. Still, I find that for analytical purposes I may as well mention them just in case. First, a giant potential inverted head and shoulders pattern. Should this complete, the measured target for this would be approximately $2 higher than the point where it breaks above the neckline. Technically, this pattern alone could quite easily propel Nokia above my forecasted target of $7 depending on if the neckline is tilted upwards or is the 0.618 Fib. And again, only if the pattern is legit. Second, a much smaller potential inverted head and shoulders pattern. Should this one complete, the measured target for it is approximately $1 higher than the point of breakout above the neckline. The measured target for this particular one to complete would be roughly the 0.5 Fib, which resides at $5.18. Interestingly, both of these POTENTIAL inverted head and shoulders pattern started at the 0.618 Fib. The bigger one completing would propel Nokia out of the current bear flag which would be a major buy signal to traders. There is also a potential ascending triangle, with an apex around August 2021. A long term downtrend channel. A long term potential falling wedge with fake breakouts to the upside and downside. I think this is more likely to be a downtrend channel than anything but I guess you never know. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - In conclusion, Nokia at this point can go pretty much anywhere. What I have outlined in this idea is strongly bias to the bullish side. The fundamentals for Nokia are currently very neutral. There is a new CEO who previously worked for Sony Ericsson, who has outlined a new roadmap for the company as a whole. They have positive cash flow and a low debt to asset ratio. They did however have a drop in overall revenue. Also, the outstanding amount of shares for Nokia is very high. Due to this, a lot of traders believe it would take a seriously large catalyst for Nokia to break its current downtrend/range. I may be early on this trade, but I do believe that within the next 6 months, Nokia could make a serious turnaround. At this point, I believe that anything below current share price is a strong buy. The leap contracts for Nokia are also dirt cheap, according to multiple postings on social media. Time will tell. I will leave you with this food for thought: When in doubt.. Zoom out. Original idea:
NYSE:NOKLong
by UnknownUnicorn5836947
14
EUR/NOK can the trend hold? Commentary EUR/NOK multi-week higher tops and higher bottoms on price indicate a dow pattern uptrend; provided price can hold above the 10.9 key support the potential for a continuation of the prevailing uptrend remains for a move towards 11.05 in the short term (5-13 days), otherwise if price fails to hold above the 10.9 key support then scope for a price correction lower can not be ruled out. Not investment advice. Past performance is not indicative of future results.
Long
by Skilling
Short EURNOK - the vikings will win!First things first: all hail valhalla! Why I like this trade: - NOK with the MUCH better fundamentals - NOK clearly undervalued on a longterm timeframe - Norges Bank quite dovish in their last meeting but could get hawkish again in march as -> inflation has massively surprised to the upside - inflation expectations on thursday will be key for NB - NB could reduce NOK selling - oil and nat gas with upward potential - EUR optimism is overpriced
Short
by PrimeTrading
GBPNOK LONG - Buy Entry - D1 ChartGBPNOK LONG - Buy Entry - D1 Chart Buy @ Market Symbol: GBPNOK Timeframe: D1 Type: BUY Entry Price: Buy @ Market Resistance @ 12.41680 Resistance @ 11.97872 Pivot Point Yearly @ 11.89933 Resistance @ 11.83269 Resistance @ 11.66966 Support @ 11.30668 Support @ 11.21511 ✅ If you liked this analysis, please consider Following and giving it a Thumbs Up 👍 ✅ If you have any feedback or questions, please leave a comment below as I answer each comment 💬 ✅ Wishing you enjoyable successful trading 🙏
GLong
by UnknownUnicorn35780991
Nokia: Further Trouble AheadNokia Corporation - Short Term - We look to Sell at 5.31 (stop at 5.54) We look to sell rallies. Previous support at 5.30 now becomes resistance. 50 1day EMA is at 5.44. There is scope for mild buying at the open but gains should be limited. Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 5.30, resulting in improved risk/reward. Our profit targets will be 4.56 and 4.29 Resistance: 5.30 / 5.50 / 6.00 Support: 5.00 / 4.50 / 4.30 Disclaimer – Saxo Bank Group. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis, like any and all indicators, strategies, columns, articles and other features accessible on/though this site (including those from Signal Centre) are for informational purposes only and should not be construed as investment advice by you. Such technical analysis are believed to be obtained from sources believed to be reliable, but not warrant their respective completeness or accuracy, or warrant any results from the use of the information. Your use of the technical analysis, as would also your use of any and all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features. Please also be reminded that if despite the above, any of the said technical analysis (or any of the said indicators, strategies, columns, articles and other features accessible on/through this site) is found to be advisory or a recommendation; and not merely informational in nature, the same is in any event provided with the intention of being for general circulation and availability only. As such it is not intended to and does not form part of any offer or recommendation directed at you specifically, or have any regard to the investment objectives, financial situation or needs of yourself or any other specific person. Before committing to a trade or investment therefore, please seek advice from a financial or other professional adviser regarding the suitability of the product for you and (where available) read the relevant product offer/description documents, including the risk disclosures. If you do not wish to seek such financial advice, please still exercise your mind and consider carefully whether the product is suitable for you because you alone remain responsible for your trading – both gains and losses.
NYSE:NOKShort
by Saxo
Nokia to Drop FurtherNokia Corporation - Short Term - We look to Sell a break of 5.24 (stop at 5.45) A move through bespoke support at 5.40 and we look for extended losses. Our overall sentiment remains bearish looking for lower levels. A lack of clear direction has formed a channel on the intraday chart that has a mild bias to break lower. We look for gains to be extended today. Our profit targets will be 4.38 and 4.10 Resistance: 6.00 / 6.40 / 7.00 Support: 5.40 / 5.00 / 4.00 Disclaimer – Saxo Bank Group. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis, like any and all indicators, strategies, columns, articles and other features accessible on/though this site (including those from Signal Centre) are for informational purposes only and should not be construed as investment advice by you. Such technical analysis are believed to be obtained from sources believed to be reliable, but not warrant their respective completeness or accuracy, or warrant any results from the use of the information. Your use of the technical analysis, as would also your use of any and all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features. Please also be reminded that if despite the above, any of the said technical analysis (or any of the said indicators, strategies, columns, articles and other features accessible on/through this site) is found to be advisory or a recommendation; and not merely informational in nature, the same is in any event provided with the intention of being for general circulation and availability only. As such it is not intended to and does not form part of any offer or recommendation directed at you specifically, or have any regard to the investment objectives, financial situation or needs of yourself or any other specific person. Before committing to a trade or investment therefore, please seek advice from a financial or other professional adviser regarding the suitability of the product for you and (where available) read the relevant product offer/description documents, including the risk disclosures. If you do not wish to seek such financial advice, please still exercise your mind and consider carefully whether the product is suitable for you because you alone remain responsible for your trading – both gains and losses.
NYSE:NOKShort
by Saxo