Chart courtesy of stockcharts

Shares of NOK fell more than 1% yesterday after the newly formed Nokia-Siemens venture warned of a slowdown in spending on telecom equipment in some regions and trimmed its forecast for the year in mobile and fixed infrastructures. Looking at the chart of Nokia in US, the trend technically still up. I'd rather await to see if supports hold before opening a long position, or if break the uptrend line opening a short position.