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(Updated on Feb 15, 2022)

Stronger technical forecast for Nokia Corporation stock price after Tuesday trading.

The Nokia Corporation stock price gained 3.13% on the last trading day (Tuesday, 15th Feb 2022), rising from $5.43 to $5.60. During the day the stock fluctuated 2.00% from a day low at $5.51 to a day high of $5.62. The price has fallen in 6 of the last 10 days and is down by -5.72% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 29 million shares were bought and sold for approximately $165.15 million.

The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $5.43 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Nokia Corporation stock with a 90% probability to be traded between $5.35 and $6.20 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.

Signals & Forecast
There are mixed signals in the stock today. The Nokia Corporation stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $5.63 and $5.87. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Monday, February 14, 2022, and so far it has risen 3.13%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss
Nokia Corporation finds support from accumulated volume at $5.59 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 $0.11 between high and low, or 2.00%. For the last week, the stock has had a daily average volatility of 2.41%.

Our recommended stop-loss: $5.33 (-4.79%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 days ago.)

Is Nokia Corporation stock A Buy?
Nokia Corporation 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: -0.577

Predicted Opening Price for Nokia Corporation of Wednesday, February 16, 2022
The predicted opening price is based on yesterday's movements between high, low, and the closing price.

Fair opening price February 16, 2022
$5.58


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