Comeback story- Nokia
So far, Nokia & Microsoft Windows phone 8 have jumped on broad the China train:
1) Nokia Partners with China Mobile to Launch the Lumia 920T, the First TD-SCDMA Windows Phone
2) China Unicom, Microsoft Forge Alliance To Boost Windows Phone Sales In China
3) Nokia Lumia 800c in second spot on China Telecom’s sales chart
Excerpt from China Unicom news:
“China is a strong area for Nokia, which is the biggest single-country for sales of Lumia devices. In fact, Nokia recently released the first ever Windows Phone 8 handset in China with the Lumia 920T, however that device went to China Mobile, China Unicom’s fiercest rival.”
Now, take a look at the table below:
Source: China to hit 1B mobile subs next year
Based on the three news items above, Nokia is in a position to grasp some of the one billions subscribers. Now, you tell me, do we have a catalyst for a runner or not?
Look at the daily and weekly charts below:
Daily NOK chart:
Do you see a prospective runner in the chart?
Now take a look at the weekly chart below:
Do you see the basing of the bottom? Do you see how much more room this stock can run?
Houston, NOK is ready to take off!
Oh yeah, I’ve bought 3/4 size position and will add to full -size position if NOK takes out the previous 3 days high of $3.90 this coming week.
Good Hunting!
3 Responses to Comeback story- Nokia
Talked about bad timing on my post. I’m forced to reduce position by half to reduce risk and cut losses. Look like price may try to fill the gap at $3.46 which was the high of Dec. 4th.
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Bought back some of the NOK I sold this morning. Now holding 70% of my intended position size.
I also bought medium size position on EXK. I like the up bar today that creates a higher pivot low compared to the pivot low of Nov 15th.
Now holding AMRN LRAD DDD USU SSYS SZYM EMAN NOK EXK & 40%.
Yes, I’m getting hammered by the drawdown from AMRN LRAD and USU; meanwhile, I’m trading the rest as swing trades.
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Forgot to mention that I bought back some of NOK because the intra-day chart was showing some support at $3.68 area.
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