Friday's selloff was brutal. NOK dropped roughly 13.5% while QQQ experienced one of its largest down days in quite some time.
However, after reviewing the chart, I am not convinced this is a structural breakdown.
The main reason is the series of accumulation boxes highlighted in red on the chart.
Each red box represents a period where price consolidated, absorbed supply, established value, and then eventually broke out to a higher range.
First accumulation box → breakout.
Second accumulation box → breakout.
Third accumulation box ($12-$14) → breakout toward the recent highs around $17.50.
After reaching the $17.50 area, Nokia experienced a sharp correction and has now been pushed back into this same accumulation range.
What I find particularly interesting is that while the accumulation box spans roughly $12-$14, the majority of the volume profile is concentrated between $13 and $14. In my view, this is the true value area and the most important support zone on the chart.
Friday's selloff pushed the stock directly into that high-value area 13$-14$, but sellers were unable to break it decisively.
What I See
• The stock corrected roughly 16% from the recent highs.
• Most of the volume profile remains concentrated between $13 and $14.
• Extended-hours trading briefly pushed below $14, but buyers stepped in and rejected lower prices.
• Friday's volume was elevated, but not dramatically larger than several previous sessions.
• The current pullback is occurring directly into a prior accumulation area rather than into empty price territory.
To me, this looks more like a test of support than a confirmed breakdown.
Bullish Scenario
Friday was primarily a weak-hand flush after a strong run from the lower accumulation boxes.
The $13-$14 high-value area continues to hold, buyers absorb supply, NOK reclaims $15, and eventually retests the $17.50 highs.
A confirmed breakout above $17.50 could open the path toward the $18.50 area.
Bearish Scenario
The $13-$14 value area fails.
Price breaks into the lower portion of the accumulation box ($12-$13), loses the entire accumulation range, and cannot recover back above it.
At that point, the accumulation thesis becomes much weaker and downside risk increases significantly.
My View
As long as NOK remains inside the $13-$14 high-value area, I view the current move as a test of the latest accumulation box rather than confirmation of a major top.
The next few sessions should tell us whether this red accumulation box becomes the next launch pad higher or the first accumulation zone that fails during the current uptrend.
Not financial advice. Just sharing my chart analysis and observations.
However, after reviewing the chart, I am not convinced this is a structural breakdown.
The main reason is the series of accumulation boxes highlighted in red on the chart.
Each red box represents a period where price consolidated, absorbed supply, established value, and then eventually broke out to a higher range.
First accumulation box → breakout.
Second accumulation box → breakout.
Third accumulation box ($12-$14) → breakout toward the recent highs around $17.50.
After reaching the $17.50 area, Nokia experienced a sharp correction and has now been pushed back into this same accumulation range.
What I find particularly interesting is that while the accumulation box spans roughly $12-$14, the majority of the volume profile is concentrated between $13 and $14. In my view, this is the true value area and the most important support zone on the chart.
Friday's selloff pushed the stock directly into that high-value area 13$-14$, but sellers were unable to break it decisively.
What I See
• The stock corrected roughly 16% from the recent highs.
• Most of the volume profile remains concentrated between $13 and $14.
• Extended-hours trading briefly pushed below $14, but buyers stepped in and rejected lower prices.
• Friday's volume was elevated, but not dramatically larger than several previous sessions.
• The current pullback is occurring directly into a prior accumulation area rather than into empty price territory.
To me, this looks more like a test of support than a confirmed breakdown.
Bullish Scenario
Friday was primarily a weak-hand flush after a strong run from the lower accumulation boxes.
The $13-$14 high-value area continues to hold, buyers absorb supply, NOK reclaims $15, and eventually retests the $17.50 highs.
A confirmed breakout above $17.50 could open the path toward the $18.50 area.
Bearish Scenario
The $13-$14 value area fails.
Price breaks into the lower portion of the accumulation box ($12-$13), loses the entire accumulation range, and cannot recover back above it.
At that point, the accumulation thesis becomes much weaker and downside risk increases significantly.
My View
As long as NOK remains inside the $13-$14 high-value area, I view the current move as a test of the latest accumulation box rather than confirmation of a major top.
The next few sessions should tell us whether this red accumulation box becomes the next launch pad higher or the first accumulation zone that fails during the current uptrend.
Not financial advice. Just sharing my chart analysis and observations.
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน