TMCnet News
Sprint Nextel (S) Approaches New Upside Target of $5.63Dec 27, 2012 (SmarTrend(R) News Watch via COMTEX) -- Sprint Nextel (NYSE:S) has opened bullishly above the pivot of $5.54 today and has reached the first level of resistance at $5.59. Should the shares continue to rise, the resistance pivots of $5.63 and $5.71 will be of interest. Over the past year, Sprint Nextel has traded in a range of $2.10 to $6.04 and is now at $5.58, 166% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has remained constant. There is potential upside of 14.5% for shares of Sprint Nextel based on a current price of $5.58 and an average consensus analyst price target of $6.40. Sprint Nextel shares should encounter resistance at the 50-day moving average (MA) of $5.62 and support at its 200-day MA of $4.12. SmarTrend recommended that subscribers consider buying shares of Sprint Nextel on March 9th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $2.71. Since that recommendation, shares of Sprint Nextel have risen 105.2%. We continue to monitor S for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |