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

(23-May-2008) (23-May-2008) Nokia Corp.(NOK) closed at 28.02, down -0.35 or -1.23 % today. Based on our analysis, Nokia Corp.(NOK) is in an downtrend but momentum is showing some life.

The closing price of Nokia Corp.(NOK) is below its 50 day moving average of 30.32 (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 Corp.(NOK) is gaining momentum. An downtrend with sustained rising momentum could be early sign of reversal. The MACD histogram crossed above the signal line on 16-May-2008, about 10 trading days ago.