Weekend peek at NOK charts tells me the downside here has a higher probability than the upside (barring "news" surprises to the upside).
Present expectation at my end is a drop to around $1.75 in the next few weeks, a bit of floundering there, followed by a drop to around $1.50, unless Nokia pulls a magic solution rabbit out of its ass. Below that, no idea. Will see, if/when NOK gets there.
Yes, NOK is massively oversold. But, nobody seems to give a chit and they're selling the carp out of it even when the rest of the market is flying. Ergo, I'd not bank on oversold causing much of a bump, if any.
$1.25 is still the glass ceiling, above that vacuum to $1.38.
All just my never humble opinion, of course. |
