NOK Ready to Run: Bull Flag, Rising Volume, and an 11-Year Double Bottom
$Nokia Oyj(NOK)$ (4.2% ADR) – Consolidating in a bull flag after a 20% surge following $NVIDIA(NVDA)$ $1B AI networking investment 3 weeks ago.
I’ve been tracking NOK in my stalk list since last Tuesday within my subscribers' community, and the sideways consolidation has now produced intraday gains for three consecutive sessions. The VARS setup has been impeccable since August 18, and the volume uptick starting September 4 could suggest early positioning ahead of the announcement from insider.
Currently, the stock sits at 7× ATR% from the 50-MA, with an upper threshold of 15× ATR% based on the NVDA catalyst. Extremely liquid at avg $ vol of $370mil / avg share vol of 52mil. NOK has also not doubled (on close) from both YTD and 1-Year low, lots of traction. This price structure closely mirrors a Qullamaggie style swing trade setup seen in his streams.
If the story is a turnaround for NOK, have a look at its monthly chart, it is a 11-year bullish double bottom base!
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