Nokia Oyj Sponsored ADR

NOK. Local reverse point

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NOK has reached the boundary of the downtrend, also it is near the highs of February 10 and near the strong support/resistance zone at $4.3-4.4. There was a strong gap up from the EMA200 . Locally, the paper is in the oversold area. There may be a correction to EMA200 ($4), but with favorable external factors and confirmation of downtrend break-down I see the growth to $5.1 . Price Targeting for the paper based on the estimates of 15 analytical teams at $4.75, and 6 analitics teams recommends it as StrongBuy

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