Nokia Stock Forecast
Nokia stock upgraded to Hold/Accumulate.
(Updated on Apr 18, 2024)
The Nokia stock price gained 3.60% on the last trading day (Thursday, 18th Apr 2024), rising from $3.33 to $3.45. During the last trading day the stock fluctuated 2.68% from a day low at $3.36 to a day high of $3.45. The price has fallen in 5 of the last 10 days and is down by -2.27% for this period. Volume fell on the last day by -173 thousand shares and in total, 21 million shares were bought and sold for approximately $73.21 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.57% during the next 3 months and, with a 90% probability hold a price between $3.18 and $3.59 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
NOK Signals & Forecast
There are mixed signals in the stock today. The Nokia stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $3.53. On a fall, the stock will find some support from the short-term average at $3.37. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 4.55%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Nokia stock
Nokia finds support from accumulated volume at $3.42 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0900 between high and low, or 2.68%. For the last week, the stock has had daily average volatility of 2.44%.
Our recommended stop-loss: $3.31 (-4.11%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (NOK) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Nokia Corporation to open at $3.42, and during the day (based on 14 day Average True Range), to move between $3.37 and $3.53, which gives a possible trading interval of +/-$0.0796 (+/-2.31%) up or down from last closing price. If Nokia Corporation takes out the full calculated possible swing range there will be an estimated 4.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.42 (0.87%) than the resistance at $3.52 (2.03%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Nokia will release earnings BMO on Thursday, April 18, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0600. We will update the financials statements for Nokia, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.56% in the first trading day after earnings release.
Is Nokia Corporation stock A Buy?
Nokia holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.090 Hold/Accumulate Upgraded
Predicted Opening Price for Nokia Corporation of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $3.42 ( 0.87%) | $3.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NOK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.51 | 1.74 % | |
| R2 | 3.48 | 0.743 % | ||
| R1 | 3.45 | 0.127 % | ||
| Current price: | 3.45 | |||
| Support | S1 | 3.39 | -1.87 % | |
| S2 | 3.36 | -2.48 % | ||
| S3 | 3.33 | -3.48 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.58 | 3.77 % | |
| R2 | 3.53 | 2.32 % | ||
| R1 | 3.52 | 2.03 % | ||
| Current price | 3.45 | |||
| Support | S1 | 3.42 | -0.87% | |
| S2 | 3.35 | -2.90% | ||
| S3 | 3.33 | -3.48% |
NOK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 06, 2023 | Jan 29, 2024 | Feb 13, 2024 | $0.0212 | 0.609% |
| 2 | Feb 06, 2023 | Oct 23, 2023 | Nov 07, 2023 | $0.0320 | 0.93% |
| 3 | Feb 06, 2023 | Jul 24, 2023 | Aug 08, 2023 | $0.0340 | 0.87% |
| 4 | Feb 06, 2023 | Apr 24, 2023 | May 09, 2023 | $0.0990 | 2.43% |
| 5 | Dec 13, 2022 | Jan 30, 2023 | May 09, 2023 | $0.0220 | 0.541% |
FAQ
Click here for our free guide on how to buy Nokia Stock.
