Five Star Stock Watch: Nokia Corp.
Nokia is one of the largest handset makers in the world. That fact is sometimes forgotten with all the talk of Apple iPhones and Samsung Galaxies. Regardless, the stock has doubled since September while Apple's stock has remained stagnant.
So, is it too late to get into Nokia? Or is there still a little gas left in the stock's tank? The analysis of Nokia below should answer those questions.
The company: Nokia Corp.
Ticker Symbol: (NYSE: NOK)
Industry: Communication Equipment
Nokia Corporation operates as a mobile communications company worldwide. It operates in three segments: Devices & Services, HERE, and Nokia Siemens Networks.
Related: Five Star Stock Watch: Groupon
The company sells its products to mobile network operators, distributors, independent retailers, corporate customers, and consumers.
Please take a look at the one-year chart of Nokia below with added notations:
Nokia shot higher in September and continued its runup until the end of the year. Like the rest of the market, the stock sold off in January and has recovered since February.
Nokia has now made it back to its 52-week high resistance that sits near $8.20. Investors that already own the stock should consider raising protective stops, while those not already in the stock should wait for a break to new highs before considering a purchase.
Related: Five Star Stock Watch: Lennar
Nokia isn't set to release earnings again until April 29, 2014.
No matter what your strategy, or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade. Capital preservation is always key!
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