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After Yesterday's Rally of 1.88% Shares Could Potentially Pullback

By Amy Schwartz

Nokia (NYSE:NOK) traded in a range yesterday that spanned from a low of $5.66 to a high of $5.72. Yesterday, the shares gained 1.9%, which took the trading range above the 3-day high of $5.63 on volume of 7.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Nokia have traded between a low of $5.08 and a high of $7.63 and are now at $5.69, which is 12% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.4% while the 200-day MA has slid 0.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Nokia on February 1st, 2016 by issuing a Downtrend alert when the shares were trading at $6.34. Since that call, shares of Nokia have fallen 11.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders Nokia

Ticker(s): NOK