Sprint Nextel (S), together with its subsidiaries, offers a range of wireless and wireline communications products and services to individual consumers, businesses, government subscribers, and resellers in the U.S., Puerto Rico and the U.S. Virgin Islands. This stock is trading up 5.7% to $3.66 in recent trading.
Today's Range: $3.48-$3.6852-Week Range: $2.10-$5.29 Volume: 38 million Three-Month Average Volume: 52 million >>5 Telecom Stocks Breaking Out Ahead of Earnings From a technical perspective, S is ripping higher here and breaking out above some near-term overhead resistance at $3.48 with decent volume. This breakout is pushing S into new highs for 2012 and is moving the stock within range of an even bigger breakout trade. That trade will hit once S takes out some past overhead resistance at $3.90 with high volume. Traders should now look for long-biased trades as long as S maintains a trend over $3.48, and once it takes out $3.90 with high volume. Look for a sustained move or close above $3.90 with volume that's tracking in near or above 52 million shares. If we get that action soon, then S has a great chance of trading up towards the lower end of its gap-down from 2011 near $4.50. Sprint, as of the most recently reported quarter, was one of David Einhorn's Greenlight Capital holdings.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV