Nokia (NOK) : Trend is still down

The stock did not manage to hold the line and continue its way down.

Reviewing the Ichimoku chart for Nokia now, reminds me of a simple rule :

1. Have the trend turns?

2. What are the confirmation signs?

As we can see, the Kijun sen (trendline) on the chart have hold Nokia down throughout since it breakdown.

It continues to be down to $8.50 from $12 since I last reported. If I have a position and did not get out, I would have been down another $3+ per share.

A simple reminder : It is just easier to trade with the trend backing you.

By iam802

Trend trading with Ichimoku