Nokia is on the rocks???
This morning the news is filled with headlines about just how bad Nokia (NOK) is doing. The Financial Times headline is "Profit Alert Rocks Nokia". Let's look and see just how bad it is and how is and is not reacting. The price is reacting and is down 41.07 from its recent high.
Nokia (NOK) is the world leader in mobile communications. Backed by its experience, innovation, user-friendliness and secure solutions, the company has become the leading supplier of mobile phones and a leading supplier of mobile, fixed and IP networks. By adding mobility to the Internet Nokia creates new opportunities for companies and further enriches the daily lives of people. Nokia is a broadly held company with listings on six major exchanges.
Barchart Technical Indicators:
1 - 88% Barchart technical sell signal
2 - Trend Spotter sell signal
3 - Below its 20, 50 and 100 day moving averages
4 - 41.07% off its recent high
5 - Relative Strength Index is only 18.63% and falling
6 - Trades at 6.59 which is below its 50 day moving average of 8.25