Nokia Corp. (NYSE:NOK) stock experienced downward pressure on Tuesday. Nasdaq futures are down 1.24% while S&P 500 futures have shed 0.01%.
Tuesday serves as the ex-dividend date for Nokia's 4 euro cents, or approximately 5 cents, quarterly dividend payout. Stock prices automatically adjust downward on the ex-dividend date to reflect the dividend amount leaving the company's books.
The movement also reflects profit-taking and lingering caution following Nokia's July 23 earnings call, where the company beat Wall Street expectations.
Q2 Performance And AI Growth
Nokia's second-quarter revenue rose 8% year-over-year to 4.82 billion euros, while adjusted earnings of 8 cents per share topped Wall Street estimates on robust AI data center demand.
AI and cloud revenue doubled, representing 9.3% of total sales, leading Nokia to raise its full-year operating profit outlook.
CEO Justin Hotard said memory supply constraints are likely to persist through 2027 as AI infrastructure demand continues to outpace supply.
Nokia Stock: Key Levels To Watch
Nokia is coming into Tuesday's session at $9.11, which leaves it trading 20.6% below its 20-day SMA ($11.36) and 32.2% below its 50-day SMA ($13.30), a sign the intermediate trend has been under pressure. At the same time, it's essentially flat versus the 200-day SMA ($9.09), making this area a "make-or-break" zone for longer-term trend followers.
MACD is the cleaner momentum lens right now: it's below its signal line and the histogram is negative, which points to momentum fading versus the prior upswing.
From a structure standpoint, the stock still has the longer-term "golden cross" in place from October (the 50-day SMA above the 200-day SMA), but the shorter-term alignment is bearish with the 20-day SMA below the 50-day SMA. That mix often produces choppy trading, where rallies can stall quickly until price can get back above the faster averages.
NOK Price Action: Nokia shares were down 5.55% at $8.76 at the time of publication on Tuesday, according to Benzinga Pro data.
Photo: Mercurious / Shutterstock
