Following these proceedings, JP Morgan upgraded its Nokia Corp ADR [NOK] rating to an Overweight from a a Neutral in a research note published on December 09, 2024; the price target was increased to $6.35 from $4.35. A number of analysts have revised their coverage, including Danske Bank’s analysts, who increased its forecast for the stock in mid October from “a Hold” to “a Buy”. Barclays also remained covering NOK and has decreased its forecast on January 19, 2024 with a “an Underweight” recommendation from previously “an Equal weight” rating. Exane BNP Paribas started covering the stock on January 12, 2024. It rated NOK as “a Neutral”.
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Price Performance Review of NOK
On Tuesday, Nokia Corp ADR [NYSE:NOK] saw its stock unchanged to $4.40. Over the last five days, the stock has gained 4.02%. Nokia Corp ADR shares have risen nearly 28.65% since the year began. Nevertheless, the stocks have risen 38.36% over the past one year. While a 52-week high of $4.95 was reached on 10/28/24, a 52-week low of $3.11 was recorded on 04/15/24. SMA at 50 days reached $4.46, while 200 days put it at $3.99.
Levels Of Support And Resistance For NOK Stock
The 24-hour chart illustrates a support level at 4.36, which if violated will result in even more drops to 4.32. On the upside, there is a resistance level at 4.44. A further resistance level may holdings at 4.48. The Relative Strength Index (RSI) on the 14-day chart is 53.07, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.11, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 17.50%. Stochastics %K at 76.31% indicates the stock is a holding.
How much short interest is there in Nokia Corp ADR?
A steep rise in short interest was recorded in Nokia Corp ADR stocks on 2024-11-29, dropping by -7.54 million shares to a total of 50.9 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-31 was 58.43 million shares. There was a decline of -14.81%, which implies that there is a negative sentiment for the stock.
