Nokia Corporation (NOK) Stock Price Performance
Analyzing the technical facts, Nokia Corporation (NOK) current distance from 20-Day Simple Moving Average is 7.37% and standing 10.40% away from 50-Day Simple Moving Average while traded 14.08% away from 200-Day Simple Moving Average. Tracking the stock price in relation to moving averages as well as highs and lows for the year might assist with evaluating future stock performance. They may also be used to assist the trader figure out proper support and resistance levels for the stock. The stock has 40.80% to a low over the previous 12 months and showed -4.51% to a high over the same period.
Nokia Corporation (NOK) stock price is moving 0.00% to 6.35.NOK exchanged 12546944 shares in Thursday session and its relative volume is 0.84. When analyzing volume, determine the strength or weakness of a move. As traders, we are more interested to take part in strong moves and don’t join moves that show weakness – or we may even watch for an entry in the opposite direction of a weak move. These guidelines do not hold true in all situations, but they are a good general aid in trading decisions.
Analysts have a mean recommendation of 2.6 on this stock. The stock’s short float is around of 0.55% and short ratio is 1.9. The stock has a beta value of 1.15. The Average True Range was observed at 0.13. The volatility in the previous week has recorded at 1.76% and seen at 1.76% in the previous month. The stock price value Change from Open was at 0.32% with a Gap of -0.31%.
Let’s take an assessment at how Nokia Corporation has been performing. The stock is showing 36.27% so far this year and moved 7.81% during recent week. The shares price has positioned at 18.47% over the past quarter while it has directed 25.74% during past six months. The shares price has directed 3.42% in last year and swapped 14.00% during past one month.
Why Nokia Corporation (NOK) stock is considered to be overbought?
Currently, the 14-day Relative Strength Index (RSI) reading is at 70.42. RSI is a quick tool you can use to gauge overbought and oversold levels, the Relative Strength Index. The premise is simple, however. When RSI moves above 70, it is overbought and could lead to a downward move. When RSI moves below 30, it is oversold and could lead to an upward move. But, we must be patient before we enter our trades, because sometimes the RSI can stay overbought or oversold for quite awhile. The worst thing we can do is try to pick a top or a bottom of a strong move that continues to move into further overbought or oversold territory. So we must wait until the RSI crosses back under 70 or crosses back above 30.
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. The term Oversold describes a period of time where there has been a significant and consistent downward move in price over a period of time without much pullback.