Nokia Oyj

The recent Bullish Pivot Point signals that downside control has broken and the stock is undergoing structural repair, shifting bias toward an upward mean reversion. Price is extended above the rising 9/20 EMAs and the 50-day SMA, with momentum constructive but no exhaustion. A shallow pullback into the 9/20 EMA zone (~10.50–10.75) would offer more favorable entry conditions. Failure to hold these EMAs or a rejection near prior highs (~11.50–12.00) would trigger a reassessment of the medium-term bullish thesis.

• ↑Q2 2026 AI infrastructure sales surged 105% YoY, driving segment growth.
• ↑Q2 order intake reached €2.8B, supporting a 27% CAGR market outlook to 2028.
• ↓Negative earnings yield and weak profitability indicators pressure margins.