KIANEWS The NOK's momentum indicator turned positive
12. 11. 2022 Saturday / By: Robert Denes / Business / Exact time: BST / Print this page
The momentum indicator for NOK (Nokia) moved above the 0 level on November 10, 2022, indicating that the stock may be in a new upward movement. Traders may also consider buying the stock or buying call options ahead of the stock rally in December. Tickeron AIdvisor examined 81 similar cases where the indicator turned positive. In 59 of the 81 cases, the stock rose in the following days. The chance of going higher is 73%.
Nokia (NOK) broke above its 50-day moving average on November 10, 2022, indicating a switch from a downtrend to an uptrend. In the case of a 3-day advance, the price is estimated to increase further. Taking into account data from situations where the NOK advanced for three days, out of 272 cases, the price continued to rise in the following month. The chance of a continued uptrend. After the 3-day fall, according to forecasts, the stock may fall further. Taking into account the previous instances when the NOK fell for three days, the price continued to rise from 62 instances in the following month.
NOK broke above the upper Bollinger band on November 10, 2022. This could be a sign that the stock will move lower as the stock moves back below the upper band and towards the middle band. You may want to consider selling the stock or exploring put options. The price of NOK has grown at a lower rate than the components of the S&P 500 index over the past 12 months. NOK's unstable gains over time have resulted in significant drawdowns over the past five years. Stable profits reduce stock drawdown and volatility. Industry average Profit vs. The Risk Rating is 86, which makes this stock worse than average.
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