Like BBRY, Nokia spent much of 2012 crashing, only bouncing back in the last quarter after shares got too oversold. An identical pattern is in play in Nokia; the stock is a head and shoulders top, in this case with a neckline at $3.80. A breakdown below that price level is the sell (or short) signal for this phone maker. Here again, a breakdown in momentum adds some extra confirmation to a short-side setup in this stock.
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