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Infinera Corporation Message Board

  • akptrades akptrades Jun 18, 2013 3:51 PM Flag

    Nokia Surges 11%: Huawei ‘Open’ to Buying Them, Says FT

    June 18, 2013, 1:06 P.M. ET
    Nokia Surges 11%: Huawei ‘Open’ to Buying Them, Says FT

    Nokia rallies sharply, falls back after negative comments from MKM Partners
    The stock hit a high today of $4.12 on very heavy volume, approaching over 3 times the daily average. The catalyst for this move higher was an item in the FT that suggested Huawei could be a suitor for the company. MKM Partners came out calling the move up a selling opportunity, suggesting that the EU would likely block any such attempt. Huawei has since come out to say it has no plans to acquire the company, according to Bloomberg. Whether the stock will remain higher on the presumption someone may step forward as a suitor remains to be seen. Support is at the low of the day at $3.67. Resistance is at $4. On a technical basis the shares have been putting in a bullish rounding bottom over the last several months. Purely on a technical basis the stock looks to have upside to $4.62.

    Sentiment: Strong Buy

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