Technical Analysis: Based on recent price action, NOK has formed a bullish reversal pattern with increasing volume. The stock has bounced off support at $3.37 and shows positive momentum.
News Impact:
Price Prediction for Next Week (Feb 24-28, 2025):
The technical indicators suggest:
Buy/Sell Recommendation: BUY with entry at current levels ($3.44) for short-term trading Target: $3.52 (+2.3%) Stop loss: $3.37 (-2.0%)
Rationale:
The price of NOK is predicted to go up 5.95%, based on the high correlation periods with MKTX. The similarity of these two price pattern on the periods is 97.29%.
NOK
MKTX
Year
NOK Price Forecast($)
Potential Return(%)
2025
6.350
40.490
2026
5.500
19.570
2027
6.500
41.300
2028
6.500
41.300
2029
6.500
41.300
2030
7.500
63.040
The capabilities of 5G will bring a new market of customers and a longer and more expansive cycle of network spending as enterprises deploy private networks and use Internet of Things functions.
Nokia is taking cyclicality out of its business by moving more into cloud services and as-a-service offerings that will keep greater revenue streams intact even when customers are not buying new products or upgrading networks.
Nokia's intellectual property portfolio will be even more valuable with 5G, as devices other than handsets will now need licenses for its technologies.
Craig-Hallum
2025-01-06
Price Target
$6 → $7
Upside
+53.51%
JP Morgan
2024-12-09
Price Target
$4.35 → $6.35
Upside
+44.32%