What's up youtube? Oh man, god. I just laughed myself way too hard. You guys already know who that was. Oh man, i'm excited to give you guys an update today on ticker symbol and okay.

Nokia. We've got a decent amount to talk about, so let's just get right into the video. What is up, everybody welcome to trace trades. We get a technical analysis on different stocks in the stock market, as well as potential buy holders sell opinions on these given stocks.

I, like your premise by saying that i'm not a financial advisor nor expert so take what i say with a grain of salt. The reason i started this channel is because a couple years back, i was about thirty thousand dollars deep and some medical debt, and i was very fortunate to have some close family friends and mentors that pushed me to work hard and invest my money. I am happy to say that not only am i now financially free, but i'm doing pretty well for myself at the age of 23. So if i can pass along any of the information resources or tools they're given to me here, the community make a couple people better off than they were before.

That's all that i can ask for last. If you wouldn't mind drop a like on the video, it really does help support the channel and consider subscribing if you like, to see more content like this now today, we're gon na be giving you guys an update on ticker symbol and okay nokia uh - and this Is actually a company that i enjoy a lot uh? This is not a stock that i i will be honest. I covered before the wsb incident, but this has been on my radar and there is some actually really good stuff out here on this company that we could talk about so we're gon na talk about nokia. Look at this on the one month chart as well as the one day one minute chart to give you both a macroscopic and microscopic perspective of the stock.

I've got a couple. Different indicators pulled up the rsi, which is the relative strength index anything over 70's overbought. Anything under 30 is oversold. I have two other indicators right here: the 200dma in purple and the 15ma in blue.

The 200dma is the exponential moving average and this is a price, action-based valuation trendline over a 200-day moving period and then a 15-day. A right here is a uh. Some brokerage accounts call this the sma, the simple moving average - and this is just a price action based valuation trend line over a 15 day moving period. You can edit this as you'd please, but i use a 15 day and this uh.

This just gives you an idea of both microscopic and macroscopic price action on a stock so that you can predict upcoming breakouts. So we'll talk about what all these mean level of some levels of support and resistance, to give you guys some good potential entry points and exit points on the stock if you're a bag holder and you bought in back here when wsb pumped this thing, you saw A little bit of a squeeze up to 8.84 cents, we'll talk about some some strategies that you can use to help improve your position and get some gains. If you have not established a position, we'll get you ready for some gains. If you want to improve your position, will get you ready for some gains so we'll talk about all that uh.

Both some bullish and bearish indicators on the charts cover a news article tell you the basis of the company, the whole nine yards. So let's buckle in and get right into the video, but first off i want to give a quick shout out to the guys over at the patreon. We are 700 members strong now which is absolutely mind-blowing to me. I'm so grateful for every single one of you out there.

It's it's awesome, i think, about a month ago, we had 10 people in here, so insane growth very grateful for all of you. They'll have access to the the private discord as well as real-time insight to my personal training and some memes that i create and uh. We've got some good stuff in here chatting questions, investing assistance, options, trading, stock, bot, wsb updates to keep you up to date with the current market climate and everything taken into consideration short term plays midterm, plays long plays. Spac plays investing assistants, a whole bunch of different industries and sectors, and some people in here make a pretty good killing.

I'm not kidding you uh. If we look here at the weekly earners and learners, amanda has turned 48 in the last day. As of january 27th. Itachi uchiha turned 137.

In a single week, we've got uh brother darkness turned 148 a single day. If you're interested in joining this community. There is a link to the patreon description box down below now, if you're not familiar with what nokia is we'll just read you off a quick profile, and this is coming from their website. Nokia is a finland-based company engaged in the network, an internet protocol, infrastructure software and related services market.

The company's businesses include nokia networks and nokia technologies. The company's segments include ultra broadband networks, ip networks and applications and nokia technologies. The ultra broadband network segment compromises mobile networks and fixed networks, operating segments, the ip networks and application segment compromises, ip optical networks and applications and analytics operating segments. The applications analytics operating segment offers software solutions spanning customer experience, management, network operations and management, communications and collaboration policy and charging, as well as cloud internet of things, security and analytics platforms that enable digital services providers and enterprises to accelerate and optimize their customer experience.

The company has a complete oigi oig among its subsidiaries. Look at the financials here. The annual revenue here is green, so they have improved. We have seen more growth here in the past.

Back in 2016, they were up about 82, with a total revenue about 25 billion or so currently raking in about 26 billion, so they're kind of stagnated, the last four years, but with penny stocks, as you know, you are investing in the idea of growth and not Necessarily the previous growth, so that is what the current situation looks like with nokia, and there is a news article that i wanted to show you guys really quick, so nokia stock is serious game. Stop is a game now this is taking my political opinion. Absolutely from the side of my opinion. From the side, i actually 100 believe in the gamestop amc squeeze the hedge fund situation, the whole nine yards - if you guys have seen any of my videos, you know my standpoint on that, but we will talk about nokia.

Nonetheless, so, let's just read a quick little piece of this, the reddit trading target. We really need to talk about, isn't gamestop or amc. It's nokia, while shares of gamestop and amc have surged, as bands of redditors have piled in nokia. Stock is the biggest gainer in europe this week.

For the same reason, at one stage this week shares in the finished company that are listed in the us jumped 63 percent before falling again, that's a far more worrisome phenomenon to be clear for the people involved in gamestopper amc. The recent share surges may be life-changing. It's creating gobs of wealth for some et cetera, et cetera the telecons network. That nokia builds, however, are real deal if the if the wall street's best phenomenon, has to some extent in funding games.

The target of nokia stock is a real cause for concern. Now i actually believe in nokia a lot and i'm glad to some extent that they did post this article, i'm 100, the gamestop amc behind that movement, but nokia got wrapped into that movement and i do think they're still: okay, they're, not looking great right now right. The charts don't look, absolutely beautiful, i'm not gon na, be i'm not gon na lie to you, but it's not the end of the world, because there is still good company premise and promise here and i actually like a lot. What nokia's doing we've heard? We've heard that they're trying to get a 5g satellite into space, which would be absolutely insane they'd, be unprecedented, that that would really uh generate a lot of revenue and be a very niche situation for this company in the market.

I don't think there's, there's really. No other company - that's done that and there's a lot of opportunity here. So let's take a look at the charts and see what we might expect. Based on that news.

We do know there is a short interest in nokia. Still as of january 29th, there are 53 million shares of short volume and that's a 15 short volume ratio compared to the total market volume. Compared to what we see in the past. Some people have covered on the stock, which is why you did see that squeeze on january 27th, there was a total of 144 million shares of short volume on the stock uh.

Compared to the total volume of 1.13 billion. We did see a pretty nasty filthy squeeze up to eight dollars and 84 cents as shorts did cover, but there is still remaining uh short volume on the stock of 53 million. And what does this signify to me? Well, i think these guys would have covered if they could have broke even or made profit on this stock right if they, if they couldn't cover which i'm assuming is the case. That's why there's still 53 million shares of short volume here, they're still holding they're, holding hoping that the stock does continue to drop, which is possible right, but i don't think is likely to be the case.

So let's just take a look here at the charts. Look at some good potential entry points and such so. We don't currently have an upward moving channel with nokia to be completely blunt and just to be transparent. I don't currently have a position in the stock.

I am in the process of transferring over my fidelity account over to weeble, but i promise you oh actually shoot. I take that back. I do have a position in nokia, i'm so sorry i don't mean to bs you guys, but i do have a position in nokia. So you'll have to take my word for it.

I forgot that i did fidelity closed out. My positions in my account - and i reestablished - and i forgot that i did that, but i do have a position in nokia to be completely transparent. It is in the process of being transferred over here right now and we aren't ever so slightly moving upward channel. We did not get back all the gains that we saw previously we're training four dollars and 20 cents, and we are now sitting at about 4.67.

So a little bit better right. We would like to have seen less of a retracement if we come and pull up the fibonacci retracement right now on nokia, you're, looking at giving back more than 78.6 percent near 100. So that's a it's a pretty harsh retracement right, which is why that article is saying it's a little bit concerning for the company, but nonetheless i do think that nokia is still going to be okay and i believe, a lot of what the company is doing. So if you're a bag holder, for instance right, let's say you bought in near this peak at eight dollars and 84 cents - maybe you bought in at seven dollars.

Maybe you bought it at six dollars, five dollars, the the high fours even right. This is an opportunity for you guys to improve your overall position in the company, and one thing that i do notice is: we do have a downward uh trending uh channel right here of resistance. So if we adjust this overall trend line right, i'm just going to delete this and redraw a new one based on some of these candles that we're seeing right now, we've got one two, we're gon na say three different touch points here and if this does come To fruition, we try to use the most recent price action that we can to connect points. Three different touch points that is a respected level of resistance on the stock.

So there's a couple ways this can play out either a we see a push underneath this level of uh support, this slightly upward, trending support line and it breaks down or b. We see a push above this descending level of resistance. If you see a push above, this descending level of resistance, typically it'll follow with a wide range candle bar, which is something like this. A lot of price action covered in a one-hour window, and it should retest some of these previous highs.

Now, what kind of highs and lows are we looking at at this current moment? Well, this level of support is pretty strong right here at about four dollars and 57 cents, or so we've got one two three different contact points uh. This was a level of resistance here pushed through brought some newer highs right, so that's pretty well respected, so um, that's the level that we need to watch for another level of resistance that we should keep in. The back of our minds is right around here. We've got a solid resistance sitting at 5.65 and below that we've got a level of resistance right around 522..

Now, if we break through this, this descending level of resistance, the first two we're going to be looking for is a break above 522 and 565.. We've got quite a few different contact points here, as you can see. Uh we had a false break here, came back down and once they pushed above that it was pretty violent. So those are gon na be levels.

You want to watch for here pretty significant here on the charts, and i do think this is pretty close to the bottom. I don't think you're going to go back all the way down to previous lows, as there are actual investors that enjoy this company, the volume is extremely higher than it has been in the past. A lot of red volume here, which is, i think, people, either cutting losses or taking profits from this extreme run-up, but i do think you're gon na see investors come back to this company as it is a good mid to long-term company. I think there's a lot of potential here and now is the best time to buy we've seen a couple straight days of extreme oversold action on the rsi currently traded off and closed the date at 40, which is extremely extremely low.

I i find it highly unlikely. You're going to see this bleed more than it already has. I think this is probably pretty close to the bottom here and, if you're looking to improve your position or establish a position, that is the time this is the time to do it now. One thing that i would like to see on the charts that i don't currently is a bounce off of that level of support.

We haven't seen it yet that would signify to me that we are pretty close to a bottom here. I do think this is a bottom, but that's one thing that could be improved upon on this on this price action is we're just kind of hugging that line right i'll, show you on the one day one minute chart, but if we had a wide range candle Bar i'd feel more comfortable saying that that is a bottom out, pretty close to a double bottom. Actually, we have one double bottom here, followed by a wide range candle bar and engulfing candlestick pattern, typically, an indicator of an upcoming run which did not come to fruition, but if we do see a wide range candle bar push above this descending level of resistance. I anticipate that you're likely to see a pretty good run here on nokia, a run somewhere around 522 565.

Pretty likely. I would not be surprised whatsoever to see this close around 565 on the day and that does not take into consideration guys the overall short interest that still exists in nokia, which is 15 based on the previous day of market volume and the total remaining short volume. As of january 29th, so there's a lot of opportunity here. There could still be a little bit of a short squeeze.

It won't be anything like gamestop or amc, but there is opportunity here to make money and i would not be surprised in the least bit to see this do some damage. So that's how it looks right now. We do still have a nice gap between the 15 m8 and the 200 ema. This did cross for the first time back back here and if you were able to get him back when it was trading at what would this have been 3.98 cents you're? Seeing pretty good right now, it's not a terrible place to be sitting.

I would not stress in the least bit. In fact, this is an opportunity for you to average up. I really don't think you're going to find a much better price than this at the very worst. I think if this comes back down any further you're looking at four dollars and 21 cents, which from here is really not that big of a difference, so the risk for you is much much outweighed by the reward, and i think you're gon na make that back.

Very quickly, if you're, looking at a mid to long term investment with nokia, looking at the one day, one minute chart, we see very similar trending uh patterns to blackberry. If we just pull it up, really quick, they did mirror each other pretty closely very similar downward movement and selling pressure, which does seem to be the case overall with all these wsb related stocks, but regardless of wsb. I still think this is a very strong company with a lot of strong promise. So that's how it looks.

Currently, we did see a little bit of a bounce here off of this level of support. Two bounces, a false breakdown, followed by a nice, push. Third, push right here down to re-test at 454 and then a nice little gap here between that price level and where we are trading right now. So that is how the charts look.

That is the potential entry points if you're looking for a mid to long term investment, i would not be surprised whatsoever within the next one, two three months to see nokia break out of this penny stock realm and get over ten dollars. I think they have a lot of potential now they're different sectors right, but nano dimensions had some pretty gnarly price action and nokia, i think, has potential to have some of the very similar price action that we've seen with nndm. I would not be surprised in the least bit to see this break over ten dollars a lot of upside, and that is what i have for the video. So if you enjoyed it, please drop a like.

It really does help support the channel and consider subscribing if you'd like to see more content like this and lastly, i have an affiliate link in the description box down below for weeble. Now weeble is a brokerage platform which you are seeing right now on my screen that allows you to trade pre-market starting at 4am, which is a great tool to help get ahead of some time-sensitive plays. And if you do use my link you'll receive four free stocks with 100 deposit, two upon opening the account and two upon depositing and verification of the 100, and i will also receive a free stock so great way to support the channel if you're not interested. That's totally fine, i don't care my friends, i promise you.

I am just so glad to have everybody here taking the time to watch my videos and support me in that way. So that is what i have for you guys today. Thank you for taking the time to watch my video and i'll, see you on the next one, my friends, peace.