Nokia (NOK) Price Forecast Summary

Published: March 17, 2026

Key Points

• Nokia Corporation (NOK) stock has broken out of a cup-with-handle base, indicating a bullish continuation.
• The key resistance level to watch is $8.73, which must be cleared to confirm the upward trend.
• The 20-day moving average at $7.90 serves as near-term dynamic support.
• Potential upside targets range from $10.51 to $11.75, supported by Fibonacci levels.
• The first pullback after the breakout will create a new bullish setup to monitor.

Breakout Analysis

Nokia's stock recently achieved a new trend high of $8.82, challenging the resistance level of $8.73, which corresponds to a swing high from September 2014. However, the bullish breakout signal remains unconfirmed until a daily close above this resistance level is achieved. A close above $8.73 is essential to validate that buyers are in control of the market.

Support Levels

A daily close above $8.73 would confirm the continuation of the bullish trend that began from a low of $1.63 in 2012. The breakout from the cup-with-handle pattern extends the bullish trend from a 2023 low of $2.94. The 100-day moving average, which has converged with an uptrend line, provides key dynamic support. The 20-day moving average at $7.90 has been a significant support level since it was reclaimed in early February, having been tested multiple times during the recent advance.

Upside Targets and Fibonacci Levels

If NOK closes above $8.73, it will signal a long-term bullish trend continuation. The next upside targets are projected between $10.51 and $11.75, which align with previous support levels from July 2002 and a lower swing high from February 2011. Additionally, the 23.6% Fibonacci retracement level of a long-term downtrend is positioned at $11.21, further supporting this target range.

Short-Term Setup

Following the recent cup-with-handle breakout, a new bullish setup is anticipated. The first pullback after this breakout has yet to occur, and it is expected to establish a new bullish continuation setup. This development is crucial to monitor, as NOK has demonstrated strength through the breakout of a near-term continuation pattern, which aligns with the trigger for a long-term bullish signal.

About the Author

Bruce Powers is a seasoned finance professional with over 20 years of experience in financial markets. He holds an MBA and is a CMT® charter holder. Bruce has served as the head of trading strategy at hedge funds and as a corporate advisor for trading firms, providing actionable insights through both technical and fundamental analyses.