Nokia has had a couple of good days in a row, and has the look of displaying a trend reversal pattern shown from the charts below.
The daily chart above has been trading below the 20 day exponential moving average for over the last few months, but has cleanly broken above the moving average on higher than average volume today.
The weekly chart above, is shown with fibonacci re-tracement levels. Typically a healthy pull back for a stock would be to move down to the 50% level. Nokia did just that and has bounced off that level nicely. The moving indicators are still bullish (green above purple line) despite the 50% re-trace over the last few months.
Bottom Line: Nice technical picture developing with NOK, as it is trading above the 20 day ema, has volume above average, indicators still bullish, and bounce off the 50% retrace fibonacci level. Thank you for reading.
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