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NOK (Nokia Corp ADR) New High Breakout Alert

|Includes: Nokia Corporation (NOK)

$NOK (Nokia Corp ADR - NYSE) stock after one month of price consolidation between 7.63 and 8.04 support and resistance areas, has the potential to breakout to new highs. StockConsultant analysis is below.

VOLUME

  • 13.47mil shares, +39.5% compared to typical volume of 9.66mil by 11:25 am ET (15-20 min delayed).
  • Typical daily volume is 28.4mil shares over the past 6 months.

BREAKOUT

  • WATCH for possible breakout above 8.22, no resistance in area just above.
  • Type: Continuation breakout from single resistance.
  • Target: 9.05, 12.1% Stop: 7.76, Loss: 3.8%, Profit/Loss ratio: 3.2 : 1 - Excellent

CURRENT PRICE

  • 8.07, at resistance or support, 8.04 ± 0.18, type single, strength 3

RESISTANCE ABOVE

  • None.

SUPPORT BELOW

  • -5.5% at 7.63 ± 0.18, type single, strength 5
  • -11.4% at 7.15 ± 0.16, type single, strength 2
  • -17.7% at 6.64 ± 0.15, type double, strength 10

NOK breakout stock chart from StockConsultant.com

Source: NOK at StockConsultant

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.