What’s Next For Nokia Stock After 5% Drop Last Week?

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Nokia stock (NYSE: NOK) is down more than 5% in just one month (21 trading days), completely underperforming the S&P 500 which was up just a little under 5%. If you look at the change over the last five and ten days, too, the stock has returned -4.6% and -1.8%, respectively, thus having underperformed the market on both occasions. Nokia reported steady growth in its recent Q3 2021 earnings at the end of October, with revenue rising to $6.13 billion from $6 billion in Q3 ’20. Additionally, gross margins rose from 37.1% to 40.7% over this period, while operating margins rose from 6.6% to 9.3%. This helped the company’s EPS to rise from $0.03 in Q3 2020 to $0.07 in Q3 2021.

Now, is Nokia stock set to drop further or could we expect a bounce back? We believe that there is a 58% chance of a rise in NOK stock over the next month (21 trading days) based on our machine learning analysis of trends in the stock price over the last ten years. See our analysis on NOK Stock Chance of Rise. For details about Nokia’s revenues, see Nokia Revenues: How Does NOK Make Money?

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Twenty-One Day: NOK -5.3%, vs. S&P500 4.8%; Underperformed market

(25% likelihood event; 58% probability of rise over next 21 days)

  • NOK stock dropped 5.3% the last twenty-one trading days (one month), compared to a broader market (S&P500) rise of 4.8%
  • A change of -5.3% or lower over twenty-one trading days is a 25% likelihood event, which has occurred 639 times out of 2515 in the last 10 years
  • Of these 639 instances, the stock has seen a positive movement over the next twenty-one trading days on 370 occasions
  • This points to a 58% probability for the stock rising over the next twenty-one trading days

Ten Day: NOK -1.8%, vs. S&P500 1.6%; Underperformed market

(36% likelihood event; 55% probability of rise over next 10 days)

  • NOK stock dropped 1.8% over the last ten trading days (two weeks), compared to broader market (S&P500) rise of 1.6%
  • A change of -1.8% or lower over ten trading days is a 36% likelihood event, which has occurred 898 times out of 2515 in the last 10 years
  • Of these 898 instances, the stock has seen a positive movement over the next ten trading days on 494 occasions
  • This points to a 55% probability for the stock rising over the next ten trading days

Five Day: NOK -4.6%, vs. S&P500 -0.3%; Underperformed market

(13% likelihood event; 48% probability of rise over next five days)

  • NOK stock dropped 4.6% over a five-day trading period ending 11/15/2021, compared to the broader market (S&P500) drop of 0.3%
  • A change of -4.6% or lower over five trading days (one week) is a 13% likelihood event, which has occurred 318 times out of 2515 in the last ten years
  • Of these 318 instances, the stock has seen a positive movement over the next five trading days on 152 occasions
  • This points to a 48% probability for the stock rising over the next five trading days

 

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