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Possible Bullish Inside Day Candle Pattern Detected for Sprint Corp (NYSE:S)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Sprint Corp (NYSE:S) based on the price action in the company's shares. Yesterday's price range of $5.42 and $5.67 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Sprint Corp may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Sprint Corporation offers a comprehensive range of wireless and wireline communications products and services to consumers, businesses, government subscribers, and resellers. The Company develops, engineers, and deploys various technologies that include an all-digital global wireline network and a global Tier 1 Internet backbone.

In the past 52 weeks, Sprint Corp share prices have been bracketed by a low of $5.39 and a high of $8.06 and closed yesterday at $5.53, 3% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 1.7%.

There is potential upside of 2.5% for shares of Sprint Corp based on a current price of $5.53 and an average consensus analyst price target of $5.67. The stock should find initial resistance at its 50-day moving average (MA) of $6.06 and further resistance at its 200-day MA of $6.43.

SmarTrend recommended that its subscribers protect gains by selling shares of Sprint Corp on September 24th, 2019 by issuing a Downtrend alert when the shares were trading at $6.47. Since that call, shares of Sprint Corp have fallen 14.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle sprint corp

Ticker(s): S