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Next Resistance Level for Sprint Nextel (S) is $7.12

By James Quinn

Shares of Sprint Nextel (NYSE:S) have bullishly opened above the pivot of $6.93 today and have reached the first resistance level of $7.02. Investors may be interested in a cross of the next upside pivot targets of $7.12 and $7.31.

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. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.2% while the 200-day MA has slid 0.2%.

Sprint Nextel (NYSE:S) is currently priced 40.0% above its average consensus analyst price target of $4.21. Sprint Nextel shares have support at the 200-day moving average (MA) of $3.80 and additional support at the 50-day MA of $3.55.

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: pivot alerts Sprint Nextel

Ticker(s): S