Those days when Nokia communicator was a hot gadget are long gone. And, Nokia and its share price continue to welter and shrink. Nokia, once traded at USD60 apiece in 2000, was recently traded at less than USD2.00. All this thanks to the arrival of Apple Iphones and the army of Android phones.
Chartwise, Nokia has broken above its 200-day SMA line three weeks ago. Yesterday, the stock broke above its recent high. This could be the beginning of the recovery for Nokia.
Chart 1: Nokia's daily chart as at Dec 5, 2012 (Source: Stockcharts)
Chart 2: Nokia's weekly chart as at Dec 5, 2012 (Source: Stockcharts)