Nokia Corporation (NYSE:NOK) stock fell more than 9% Monday as a broader technology selloff weighed on the stock. The Nasdaq dropped 1.10%, while the S&P 500 fell 0.52%.
Technology stocks faced broad pressure Monday. The sector fell 1.9%, making it the worst performer among the 11 major sectors.
Market breadth also leaned negative, with an advance-decline ratio of 0.8. Investors rotated toward defensive areas as risk appetite weakened.
Nokia significantly underperformed the technology sector. However, the stock remains supported by strong gains over the past year.
Nokia Strengthens ESpanix Security
Separately, Nokia said Monday that ESpanix, Spain’s largest internet exchange point, deployed Nokia Deepfield Defender to protect its network from distributed denial-of-service attacks.
The AI-driven system detects and mitigates DDoS attacks within seconds. ESpanix will offer the protection as an optional service to more than 200 national and international networks.
The technology operates across six data centers in Madrid and Barcelona. It removes malicious traffic within ESpanix’s network instead of routing traffic through external security centers. This approach also helps keep Spanish internet traffic inside the country.
The deployment expands Nokia and ESpanix’s partnership. In 2025, ESpanix became Spain’s first internet exchange point to offer 400-gigabit connectivity using Nokia networking technology.
See More: Top Value Stocks
Technical Analysis
Nokia is showing near-term weakness within a longer-term uptrend. Shares trade 1.8% below the 20-day simple moving average and 1.9% below the 50-day SMA. However, the stock remains 4.1% above its 200-day SMA.
The relative strength index stands at 47.44. That signals neutral momentum and suggests the stock is not yet oversold.
The 20-day SMA remains below the 50-day SMA, a bearish near-term signal. However, the 50-day SMA remains above the 200-day SMA after a golden cross formed in October 2025.
Key support sits near $9.50. Resistance is around $10.50, close to the 50-day exponential moving average of $10.63.
Analyst Outlook
Nokia carries a Buy consensus rating and an average price forecast of $18.
JPMorgan rates Nokia Overweight with a $21 price forecast. Argus Research rates the stock Buy with a $15 forecast, while Morgan Stanley initiated coverage at Overweight with an $8 forecast.
Benzinga Edge Rankings
Nokia scores 94.48 for Momentum on Benzinga Edge, despite Monday’s sharp decline. Quality, Value and Growth remain neutral at 50.85, 44.81 and 46.63, respectively.
The setup suggests Nokia’s longer-term momentum remains intact. However, a break below $9.50 could weaken the technical picture.
NOK Price Action
Nokia shares were down 9.34% at $10.09 at the time of publication Monday, according to Benzinga Pro.
Image via Shutterstock
Login to comment