Nokia Corp. (NYSE:NOK) shares slipped during Tuesday's pre-market session. This move follows a positive Monday session where tech buyers boosted the tape.

Nasdaq futures are down 0.69% while S&P 500 futures have shed 0.54%.

Q1 Earnings Looming

Investors are shifting focus to the upcoming first quarter earnings report. Nokia is scheduled to report on April 23. Analysts currently estimate earnings per share (EPS) of five cents. Quarterly revenue is projected to hit $5.38 billion.

Recent Commercial Momentum, AI Partnership

Nokia on March 31 secured a multi-year 5G RAN agreement with Virgin Media O2. The deal supports the U.K. Mobile Transformation Plan. It includes Nokia's AirScale portfolio and AI-enabled platforms.

The company is also deepening its AI collaboration with Blaize Holdings Inc (NASDAQ:BZAI). This partnership targets hybrid infrastructure across the Asia-Pacific region.

Technical Analysis

At $8.60, Nokia is trading 4.8% above its 20-day simple moving average (SMA), the stock’s average price over the last 20 sessions. It's also trading 22.7% above its 100-day SMA, indicating the intermediate uptrend remains intact and sellers haven't reversed the bigger move.

Moving average structure still leans bullish: the 20-day SMA is above the 50-day SMA, and the 50-day SMA is above the 200-day SMA (a golden-cross-style alignment), which is consistent with trend-following support underneath price.

The moving average convergence divergence (MACD), a trend/momentum measure, is still positive with the MACD line at 0.2333 above the signal line at 0.2124.

With the stock near its 52-week high of $9.29 (set on Monday) and far above the $4.00 low, the 89.96% 12-month gain shows strong longer-term performance.

  • Key Resistance: $9.50
  • Key Support: $8.00

NOK Stock Price Activity: Nokia shares were down 3.26% at $8.60 during premarket trading on Tuesday, according to Benzinga Pro data.

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