NOK | Weekly "Trap Zone"Hey all,
Nokia has been trading within a trap zone between it's 20- and 50-day MAs on a weekly time frame. This can be considered an accumulation zone, that has stretched since March to date.
The idea is that the stock seems to have found a historical bottom around March 2020, has been on a consistent uptrend since then (taking away the reddit-driven rally), MAs are finally looking bullish.
Not sure this would have the momentum to break through long term downtrend resistance though.
Any thoughts?
Good luck to all!
(*This is not financial advice, for sake of discussion and illustrative purposes only*)
