Here's Why Nokia (NOK) is Poised for a Turnaround After Losing 8.1% in 4 Weeks

Core Viewpoint - Nokia (NOK) has experienced a significant downtrend with an 8.1% decline over the past four weeks, but it is now in oversold territory, suggesting a potential turnaround as analysts expect better earnings than previously predicted [1]. Group 1: Technical Indicators - The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements, with a reading below 30 indicating that a stock is oversold [2]. - Nokia's current RSI reading is 19.12, indicating that the heavy selling pressure may be exhausting, and a trend reversal could be imminent [5]. Group 2: Fundamental Analysis - There is strong consensus among sell-side analysts regarding an increase in earnings estimates for Nokia, with a 1% rise in the consensus EPS estimate over the last 30 days [7]. - An upward trend in earnings estimate revisions typically correlates with price appreciation in the near term [7]. Group 3: Zacks Rank - Nokia holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, indicating a strong potential for a turnaround [8].