What's Going On With Nokia Stock Thursday?

Nokia Corporation (NYSE:NOK) stock fell nearly 3% Thursday as broader market weakness weighed on technology stocks. The Nasdaq fell 0.73%, while the S&P 500 declined 0.40%. Investors turned defensive Thursday as equities weakened. Stocks that have posted strong gains over the past year can also face heavier profit-taking during risk-off sessions. Technical Analysis Nokia remains in a longer-term bullish trend. Its 50-day simple moving average remains above its 200-day SMA after a golden cross formed in October 2025. However, the intermediate trend has weakened. Nokia is trading about 14.2% below its 100-day SMA of $11.95. The stock is also hovering near its 20-day SMA of $10.36 and slightly below its 20-day exponential moving average of $10.41. Meanwhile, Nokia remains about 2% above its 50-day SMA of $10.05 and 3.7% above its 200-day SMA of $9.89. Bulls will likely watch those levels for support. The relative strength index stands at 47.99. That is a neutral reading and suggests the stock is neither overbought nor oversold. Resistance sits near $11. A sustained move above that level could open the door to a recovery toward previous midyear trading levels. Support is near $9.50. A break below that level could put the 200-day moving average back in focus. See More: Top Value Stocks Analyst Outlook Nokia trades at a price-to-earnings ratio of about 77.3. The stock carries a Buy consensus rating and an average price forecast of $16.50. B. Riley Securities initiated coverage with a Buy rating and a $15 price forecast on Sept. 17. Rosenblatt also initiated coverage with a Buy rating and a $15 price forecast on Sept. 15. JPMorgan maintained an Overweight rating in June and raised its price forecast to $21. Benzinga Edge Rankings Nokia has a Benzinga Edge Momentum score of 93.27, highlighting its strong longer-term price performance. Its Quality score is 47.26, Value stands at 45.94 and Growth is 46.63. Those readings put the three factors closer to the middle of the market. The rankings show momentum remains Nokia’s strongest factor. Traders may now watch whether the stock can reclaim $11 or moves closer to support around $9.50. ETF Exposure The Spear Alpha ETF (NASDAQ:SPRX) has a 4.15% weighting in Nokia. Fund inflows or outflows can create additional buying or selling pressure in stocks with meaningful ETF exposure. Price Action NOK Stock Price Activity: Nokia shares were down 2.73% at $10.34 at the time of publication Thursday, according to Benzinga Pro data. Image via Shutterstock Read Also: SPCX CEO Elon Musk Backs Cathie Wood’s Bullish AI Call: Real GDP Growth Could Blow Past 7%-8%