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JimVanMeerten (67.58)

Nokia is on the rocks???

Recs

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June 01, 2011 – Comments (1) | RELATED TICKERS: NOK

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

1 Comments – Post Your Own

#1) On June 01, 2011 at 1:50 PM, CluckChicken (27.20) wrote:

I am not going to say Nokia is going to do better but given their development team I would not count them as dead. As we have seen with Motorola you can go from near dead to near top of the market with the release of a hot phone. I think sometime in Q3 people will start placing their bets on if they think the next batch of Nokia smart phones will be successful. They still have positive brand recognition in most of the world for high quality phones (people even paying a premium in most places for them) and it defiantly sounds as though they are doing what they can to make sure these phones are successful.

So near term without a product that the market can be excited about the stock probably still has some ground to loss. Think in Aug/Sept I'll make my decision on this bet which should be shortly before we start hearing more about the batch of phones.

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