Nokia Is Breaking Out: Where’s It Headed Next?

Courtesy of Nokia/Benzinga

Nokia Corp. shares are trading higher Thursday and look to be breaking out of a technical pattern. Resistance in the pattern has been broken and Nokia is pushing higher. The stock was trending on social media sites throughout the day Thursday.

Nokia was up 2.30 percent at $6 Thursday afternoon at publication.

Nokia Daily Chart Analysis

Shares look to be breaking out of what traders call a pennant pattern after being able to break above resistance. If able to hold above resistance the stock could see a further bullish push.