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C = Catalyst for a Stock’s Movement
Nokia is participating in an industry that is seeing and has seen significant expansion throughout the years. Smartphones are making their ways into the hands of most and the trend shows no signs of slowing. In fact, people seem to prefer a smartphone over most technologies available today. With smartphone adoption on the rise, does Nokia have what it takes to deliver excellent products?
T = Technicals on the Stock Chart are Weak
Nokia’s long-term multi-year chart displays the story of a company that has made some great moves and other bad ones. In the 1990s, the stock was on an exponential rise, because their phones were a huge hit. Fast forward to today: Nokia’s stock has been in a steady downtrend since 2007. The stock did get a nice bounce last year, but it has recently pulled back after hitting a selling zone. Nokia needs to clear this resistance zone, between $4.50 and $5, if it wants to see higher prices.
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