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7 Hot Stocks to Trade (or Not)

Sprint Nextel

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Nearest Resistance: N/A

Nearest Support: $3.50

Catalyst: News from Symposium

Finally, cell phone carrier Sprint Nextel (S) is getting some positive attention today after the firm presented at Wells Fargo's (WFC) Wireless Spectrum Symposium. Sprint announced (among other things) that it was expanding its pilot program to provide car usage data to auto insurers, a product addition that could provide a decent boost to Sprint's top-line. With Sprint's earnings slated for next week, plenty of trading volume is coming from investors hoping to pile up on shares ahead of time.

Like eBay, Sprint is getting boosted to a new high in today's trading session. Investors looking for relative strength should be buyers if Sprint can eclipse today's highs. Sprint was also featured recently in " 4 Stocks Under $5 Making Big Moves."

To see these stocks in action, check out the at Most-Active Stocks portfolio on Stockpickr.

-- Written by Jonas Elmerraji in Baltimore.

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Follow Stockpickr on Twitter and become a fan on Facebook.

At the time of publication, author had no positions in stocks mentioned.

Jonas Elmerraji is the editor and portfolio manager of the Rhino Stock Report, a free investment advisory that returned 15% in 2008. He is a contributor to numerous financial outlets, including Forbes and Investopedia, and has been featured in Investor's Business Daily, in Consumer's Digest and on MSNBC.com.
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