Sprint Nextel (S) Approaches New Upside Target of $5.63
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.
Keywords: pivot alerts Sprint Nextel