Nokia Corp (ADR)(NYSE:NOK) Above Average

Nokia Corp (ADR)(NYSE:NOK) Above Average

Nokia Corp (ADR)(NYSE:NOK) Above Average

Overall, the bias in prices is: Downwards.

Short term: Prices are moving.

Intermediate term: Prices are trending.

Note: this chart shows extraordinary price action to the downside.

By the way, prices are vulnerable to a correction towards 5.62.

The projected upper bound is: 5.34.

The projected lower bound is: 4.82.

The projected closing price is: 5.08.

nok-n

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 23 white candles and 20 black candles for a net of 3 white candles.

A falling window occurred (where the bottom of the previous shadow is above the top of the current shadow). This usually implies a continuation of a bearish trend. There have been 10 falling windows in the last 50 candles–this makes the current falling window even more bearish.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 10.6061. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 7 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 27.58. This is where it usually bottoms. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 100 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -236.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 7 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 3 period(s) ago.

Rex Takasugi – TD Profile

NOKIA CORP ADR closed down -0.300 at 5.090. Volume was 112% above average (neutral) and Bollinger Bands were 19% wider than normal.

Open High Low Close Volume___
5.160 5.170 5.090 5.090 5,448,736

Technical Outlook
Short Term: Oversold
Intermediate Term: Bearish
Long Term: Bearish

Moving Averages: 10-period 50-period 200-period
Close: 5.58 5.65 5.91
Volatility: 38 30 40
Volume: 2,479,195 2,416,659 3,349,000

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

NOKIA CORP ADR gapped down today (bearish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
NOKIA CORP ADR is currently 13.9% below its 200-period moving average and is in an downward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect volume flowing into and out of NOK.N at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on NOK.N and have had this outlook for the last 4 periods. Our momentum oscillator is currently indicating that NOK.N is currently in an oversold condition.

Description

Nokia Corporation is a global provider of network infrastructure and related services, with a focus on mobile broadband, as well as advanced technology development and licensing. The Company’s businesses include Nokia Networks and Nokia Technologies. The Company’s segments include Mobile Broadband, Global Services, Nokia Networks Other and Nokia Technologies. Mobile Broadband provides mobile operators with network solutions for mobile voice and data services through its Radio and Core business lines. Global Services provides mobile operators with services to create and maintain networks. Nokia Networks Other includes net sales and related cost of sales and operating expenses of non-core businesses. Nokia Technologies focuses on technology development and licensing. The Radio business consists of second generation (2G) to fifth generation (5G) technology generations. The Core business has a mobile switching portfolio, as well as voice and packet core solutions.
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