Nokia Corp. Stock Forecast

Nokia Corp. stock price down 0% on Friday
(Updated on Jun 28, 2024)

NOKBF Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has risen 0.81%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Nokia Corp. 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 $3.82. On a fall, the stock will find some support from the short-term average at $3.74. 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). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Monday, June 03, 2024 and based on theory for this formation the price should fall by -3.05% to $3.64 within 7 trading days since signal was issued (Wednesday, June 12, 2024).

Support, Risk & Stop-loss for Nokia Corp. stock

On the downside, the stock finds support just below today's level from accumulated volume at $3.56 and $3.32. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Nokia Corp. finds support just below today's level at $3.56. If this is broken, then the next support from accumulated volume will be at $3.32 and $3.31.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.107%

Nokia Corp. is oversold on RSI14 (12). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

Our recommended stop-loss: $3.50 (-6.65%) (This stock has low daily movements and this gives low risk. Low RSI14 is 12 which reduces the risk some. There is a buy signal from a pivot bottom found 13 days ago.)

Trading Expectations (NOKBF) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Nokia Corp. to open at $3.75, and during the day (based on 14 day Average True Range), to move between $3.71 and $3.79, which gives a possible trading interval of +/-$0.0419 (+/-1.12%) up or down from last closing price. If Nokia Corp. takes out the full calculated possible swing range there will be an estimated 2.23% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $3.77 (0.40%) than the support at $3.56 (5.04%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Nokia Corp. stock A Buy?

Nokia Corp. 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.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Nokia Corp. of Monday, July 1, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.