Chart.ly Chart of the Day 12/8/09 Nokia
- Posted by ldrogen
- on December 8th, 2009

Today on Chart.ly Chart of the Day we look at a bearish formation in handset maker Nokia $NOK with @akoptiontrader. Bearish formations such as this have rarely worked during the current rally, but that doesn’t mean it’s time to throw out the technical analysis book. $NOK is trading below all major moving averages and testing an important level of support, this could be a nice setup to the short side if it breaks. Watch closely and have a quick trigger to cover if the bulls attempt a squeeze yet again.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.
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