Nokia price prediction

Nokia's stock price is expected to exhibit a modest upward trend, with some analysts predicting a slight upside from the current price. Here's a detailed analysis:

1. Current Price and Recent Performance:
   • As of July 5, 2024, Nokia's closing price was $3.9, with a 1.3% increase from the previous day.
   • The stock has shown a positive trend, with a recent high of $4.26 as the average price target from analysts.
2. Technical Indicators:
   • The stock's KDJ indicator is at 88.66, which is considered to be in the overbought territory and suggests a potential for a pullback.
   • The RSI is at 69.35, indicating that the stock is neither overbought nor oversold.
   • The Bollinger Bands upper band is at $3.97, which is very close to the current price, indicating that the stock is trading in the upper part of its recent range.
3. Analyst Ratings and Price Targets:
   • The consensus rating for Nokia is "Neutral" with an average price target of $4.26, which represents an 8.40% upside from the last price of $3.93.
   • A more detailed analysis by Wall Street analysts over the last 3 months has set an average price target of $4.68, with a high forecast of $6.00, indicating a potential upside of 23.48% from the current price.
4. Long-term Forecast:
   • A long-term forecast suggests that Nokia's price could hit $4 by the end of 2024 and then $5 by the end of 2026.
   • However, the forecast also indicates that the stock price will not reach $1,000, even in the long term.
5. Market Sentiment and Volatility:
   • The Fear & Greed Index is showing 39 (Fear), which suggests that some investors are cautious or fearful.
   • The stock has shown a Bullish sentiment with a 30% green days ratio and a price volatility of 4.77% over the last 30 days.

In conclusion, while there are varying predictions and indicators, the majority of the data points to a modest increase in Nokia's stock price in the near term, with some analysts predicting a slight upside from the current price. However, investors should also be aware of the potential for a pullback due to the stock being in overbought territory according to the KDJ indicator.