TradingKey – Nokia (NYSE: NOK) sank 6.94% to $13.01 on June 26 amidst significant sector-wide selling pressure on European tech stocks. The stock slump didn’t reflect any company-specific negative news or operational concerns: Nokia’s Q1 2026 results, which were reported April 23, delivered an EPS beat of 31.39%, expanded gross margin 320 basis points to 45.5%, produced €629 million in free cash flow, and grew AI and Cloud customer revenue 49% year-over-year with a book-to-bill of approximately 3 times in this segment.

The stock is at $12.93 on June 29, positioned inside a descending channel on the 2H chart with RSI at 41.78 neutral and consistently seeing lower highs and lower lows. The chart and the business don’t speak the…