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Watch for Shares of Sprint Nextel (S) to Approach Resistance at $5.90
[January 04, 2013]

Watch for Shares of Sprint Nextel (S) to Approach Resistance at $5.90

Jan 04, 2013 (SmarTrend(R) News Watch via COMTEX) -- Sprint Nextel (NYSE:S) has opened bullishly above the pivot of $5.79 today and has reached the first level of resistance at $5.86. Should the shares continue to rise, the resistance pivots of $5.90 and $6.01 will be of interest.

There is potential upside of 9.7% for shares of Sprint Nextel based on a current price of $5.86 and an average consensus analyst price target of $6.43. Sprint Nextel shares have support at the 50-day moving average (MA) of $5.62 and additional support at the 200-day MA of $4.19.

In the past 52 weeks, shares of Sprint Nextel have traded between a low of $2.10 and a high of $6.04 and are now at $5.86, which is 179% above that low price. Over the past week, the 200-day moving average (MA) has gone up 1.1% while the 50-day MA has remained constant.

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 114.8%. 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 --------------------------------------------------------------------------------------------- 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

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