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Recent 52-Week High Exceeded in Shares of Sprint Nextel (S)

By Nick Russo

Sprint Nextel (NYSE:S) traded at a new 52-week high today of $7.16. Approximately 9.1 million shares have changed hands today, as compared to an average 30-day volume of 18.3 million shares.

Based on a current price of $7.01, Sprint Nextel is currently 40.0% above its average consensus analyst price target of $4.21. The stock should find initial support at its 200-day moving average (MA) of $3.80 and further support at its 50-day MA of $3.55.

Sprint Nextel share prices have moved between a 52-week high of $7.16 and a 52-week low of $2.18 and are now trading 222% above that low price at $7.01 per share. The 200-day and 50-day moving averages have moved 0.17% lower and 1.21% higher over the past week, respectively.

Sprint Nextel Corporation offers a range of wireless and wireline communications services to consumer, business, and government customers. The Company develops, engineers, and deploys various technologies, including two wireless networks offering mobile data services, instant national and international push-to-talk capabilities, and a global Tier 1 Internet backbone.

SmarTrend recommended that subscribers consider buying shares of Sprint Nextel on June 21st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $4.14. Since that recommendation, shares of Sprint Nextel have risen 67.4%. We continue to monitor S for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows Sprint Nextel

Ticker(s): S