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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 --------------------------------------------------------------------------------------------- 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 Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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