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Sprint Nextel (S) Breaks Through Support at $5.78
Feb 25, 2013 (SmarTrend(R) News Watch via COMTEX) --
Shares of Sprint Nextel (NYSE:S) have bearishly opened below the pivot of $5.81 today and have reached the first support level of $5.78. Should the shares continue to fall, the support pivots of $5.75 and $5.69 will be of interest.
Potential upside of 10.2% exists for Sprint Nextel, based on a current level of $5.78 and analysts' average consensus price target of $6.37. The stock should find initial support at its 50-day moving average (MA) of $5.71 and further support at its 200-day MA of $4.73.
Sprint Nextel share prices have moved between a 52-week high of $6.04 and a 52-week low of $2.20 and are now trading 163% above that low price at $5.78 per share. Over the last five market days, the 200-day moving average (MA) has gone up 1.4% while the 50-day MA has advanced 0.2%.
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 113.7%. 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 cbrian@mysmartrend.com
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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
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