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Sprint Nextel (S) Approaches New Upside Target of $5.63
[December 27, 2012]

Sprint Nextel (S) Approaches New Upside Target of $5.63

Dec 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 --------------------------------------------------------------------------------------------- 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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