Nokia Oyj (ADR) (NOK) Forms Bullish Multiple Top Chart Pattern; Strong Momentum for Buyers Coming

September 17, 2017 - By Darrin Black

The stock of Nokia Oyj (ADR) (NOK) shows a multiple tops pattern with $6.59 target or 7.00 % above today’s $6.16 share price. The 6 months chart pattern indicates low risk for the $36.17B company. It was reported on Sep, 17 by If the $6.59 price target is reached, the company will be worth $2.53B more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock increased 2.50% or $0.15 on September 15, reaching $6.16. About 18.84M shares traded or 96.25% up from the average. Nokia Oyj (ADR) (NYSE:NOK) has risen 19.54% since September 17, 2016 and is uptrending. It has outperformed by 2.84% the S&P500.

Investors wait Nokia Oyj (ADR) (NYSE:NOK) to report on October, 26 before the open. its quarterly earnings Wall Street analysts expect $0.06 earnings per share, up $0.01 or 20.00 % from last year’s $0.05 same quarter earnings. This translates into $352.31M profit for NOK giving the stock a 25.67 P/E. This is assuming the current $0.06 EPS is accurate. Nokia Oyj (ADR)’s Wall Street analysts see -33.33 % negative EPS growth, taking into account the $0.09 EPS reproted in the previous quarter,

Nokia Oyj (ADR) (NYSE:NOK) Ratings Coverage

Among 22 analysts covering Nokia (NYSE:NOK), 11 have Buy rating, 2 Sell and 9 Hold. Therefore 50% are positive. Nokia had 37 analyst reports since August 26, 2015 according to SRatingsIntel. Argus Research upgraded it to “Buy” rating and $12.0 target in Friday, January 15 report. The rating was maintained by Bernstein with “Outperform” on Thursday, September 3. The firm has “Outperform” rating given on Tuesday, December 1 by Credit Suisse. The rating was upgraded by Deutsche Bank on Monday, September 21 to “Buy”. The company was maintained on Friday, April 28 by Oppenheimer. The rating was upgraded by Raymond James on Friday, May 6 to “Market Perform”. The rating was downgraded by Bank of America on Tuesday, November 15 to “Neutral”. On Thursday, June 30 the stock rating was upgraded by Goldman Sachs to “Buy”. The company was maintained on Thursday, May 25 by BMO Capital Markets. The company was downgraded on Friday, October 28 by BNP Paribas.

More notable recent Nokia Oyj (ADR) (NYSE:NOK) news were published by: which released: “Why Nokia Oyj (ADR) (NOK) Stock Should Be Owned, Not Traded” on July 24, 2017, also with their article: “Can Nokia Oyj (ADR) (NOK) Earnings Justify Investor Confidence?” published on April 21, 2017, published: “Nokia Oyj (ADR) (NOK) Stock Is Nothing but a Coin Toss” on July 26, 2017. More interesting news about Nokia Oyj (ADR) (NYSE:NOK) were released by: and their article: “Nokia Oyj (ADR) (Nok) Stock Is a Case of Image vs. Reality” published on June 02, 2017 as well as‘s news article titled: “Nokia Oyj (ADR) (NOK) Stock Needs a New Story” with publication date: July 06, 2017.

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