Nokia Corporation(NOK) is in an downtrend but momentum is showing some life

(31-Mar-2008) (31-Mar-2008) Nokia Corporation(NOK) closed at 31.24, up 0.33 or 1.07 % for the day. Based on our analysis, Nokia Corporation(NOK) is in an downtrend but momentum is showing some life.

The closing price of Nokia Corporation(NOK) is below its 50 day moving average of 34.36 (Designated by blue line). This indicates that the trend is down. The MACD histogram(Gray bars on the bottom) above the signal line(Dark Red Line) tells us that Nokia Corporation(NOK) is gaining momentum. An downtrend with sustained rising momentum could be early sign of reversal. The MACD histogram crossed above the signal line today, let us see if it sustains.