NOKIA Technical Analysis - NOKIA OYJ

Technical Rating and Analysis

We assign a technical rating of 2 out of 10 to NOKIA. In the past year, NOKIA was a below average performing stock in the market. The medium term picture is also negative, but we see some improvement happening in recent action.

84% of all other stocks performed better in the past year than NOKIA.

NOKIA is one of the lesser performing stocks in the Communications Equipment industry. 65% of 27 stocks in the same industry do better.

NOKIA is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.

NOKIA is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.

Considerably lower volume is observed in the last couple of days, which is a good thing during a pullback.

The short term trend is positive, while the long term trend is still negative. So this is evolving in the right direction, but it may need some more time to really turn around the trend.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

NOKIA has a bad technical rating, but it does show a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 3.91. Right above this resistance zone may be a good entry point.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

3.35

4.94

3 important support areas can be observed.

A support zone ranging from 3.70 to 3.74. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
A support zone ranging from 3.47 to 3.51. This zone is formed by a combination of multiple trend lines in multiple time frames.
Support @3.38 from a horizontal line in the weekly time frame.

4 important resistance areas can be observed.

A resistance zone ranging from 3.91 to 3.93. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Resistance @4.41 from a trend line in the daily time frame.
Resistance @4.57 from a trend line in the weekly time frame.
Resistance @4.89 from a horizontal line in the daily time frame.

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What is Support and Resistance

Support and Resistance indicators

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Technical Indicator Signal Analysis

The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.

Indicator	Value	Signal	Comment
ChartMill Long Term Trend Indicator	DOWN	NEGATIVE	The long term trend for NOKIA.PA is down.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for NOKIA.PA is up.
ChartMill Relative Strength	16.45	NEGATIVE	NOKIA.PA has a low relative strength, it was outperformed by 83.55% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of NOKIA.PA is above the rising SMA(20).
Simple Moving Average/SMA (50)	DOWN	MIXED	The current price of NOKIA.PA is above a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of NOKIA.PA is below a declining SMA(200).
Relative Strength Index/RSI (14)	62	NEUTRAL	The RSI value for NOKIA.PA is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.04	POSITIVE	The MACD value suggests NOKIA.PA has a positive trend, although the MACD value is declining.
Stochastics (14,3)	80.82	OVERBOUGHT	The high Stochastics value suggests NOKIA.PA may be overbought.
Average True Range in percent/ATR (20)	1.83	LOW VOLATILITY	The low ATR as a percentage value for NOKIA.PA suggests low volalility.
Average Directional Index/ADX (14)	34.72	POSITIVE	The high ADX value value for NOKIA.PA suggests a strong trend.