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Look for Shares of Nokia to Potentially Rebound after Yesterday's 1.65% Sell Off
Feb 26, 2013 (SmarTrend(R) News Watch via COMTEX) --
Nokia (NYSE:NOK) traded in a range yesterday that spanned from a low of $3.54 to a high of $3.68. Yesterday, the shares fell 1.7%, which took the trading range below the 3-day low of $3.61 on volume of 51.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision.
SmarTrend recommended that subscribers consider buying shares of Nokia on November 21st, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $3.23. Since that recommendation, shares of Nokia have risen 12.6%. We continue to monitor NOK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
In the past 52 weeks, shares of Nokia have traded between a low of $1.63 and a high of $5.57 and are now at $3.57, which is 119% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has risen 0.2%.
Write to Chip Brian at cbrian@mysmartrend.com
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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com
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