Can Nokia Continue to Explode to the Upside?
T = Trends for a Stock’s Movement
Nokia operates as a mobile communications company worldwide. It designs and develops mobile products and services; provides digital map information and related location-based content and services for mobile navigation devices, automotive navigation systems, and Internet-based mapping applications; and provides mobile- and fixed-network infrastructure, communications and networks service platforms, as well as professional services and business solutions to operators and service providers. Nokia operates in three segments: Devices & Services, HERE, and Nokia Siemens Networks.
Nokia’s board is reportedly discussing a tie-up with Alcatel-Lucent (NYSE:ALU) as one of the options Nokia is exploring in the wake of the sale of its devices and services unit to Microsoft (NASDAQ:MSFT), although no official discussions with Alcatel have taken place, The Wall Street Journal reports. Nokia is focusing on its wireless holdings and its mapping software in the wake of selling its handset business. A person familiar with the matter who spoke to the Journal said that as of right now, Nokia is still far from certain about its future plans.
T = Technicals on the Stock Chart Are Strong
Nokia stock has seen a sharp decline for most of the past several years. However, the stock is currently exploding to the upside and looks to be ready to establish a new trend. Analyzing the price trend and its strength can be done using key simple moving averages. What are the key moving averages? The 50-day (pink), 100-day (blue), and 200-day (yellow) simple moving averages. As seen in the daily price chart below, Nokia is trading above its rising key averages, which signals neutral to bullish price action in the near term.