Sprint traded up on Thursday 6.01% to $9.53 per share.
- Thursday's range: $9.00 - $9.66
- 52-week range: $5.61 - $11.47
- Thursday's volume: 39,296,444
- 3-month average volume: 15,900,600
Sprint had a big day yesterday and is near a breakout level of about $9.60.
Sprint beat estimated earnings on April 29, and has traded up 25% since earnings were reported. That's lucky for those who bought at the bottom!
We need to see continued strength today, but Sprint may pull back a little, due to normal Friday profit-taking. A pullback will offer us a better entry price. A good entry would be anywhere above $9 and below yesterday's close of $9.53, or an inside day entry. Start with a 1/4 position and add to the position on the breakout above $9.60.I'd set a stop below yesterday's low, say about $8.90. Target the 52-week high of $11.47, which is about 17% to the upside. There is resistance at $9.79, then again at the gap down that occurred on Jan. 3. The gap down resistance levels are $10.03 to $10.40. Stay long until you see a confirmed sell signal or a close below the t-line. 3. Next, let's see about Walter Investment Management, which together with its subsidiaries provides business services to the residential mortgage industry in the U.S. WAC traded down on Thursday 1.74% to $28.81 per share.
- Thursday's range: $27.71 - $29.08
- 52-week range: $24.00 - $45.12
- Thursday's volume: 1,330,776
- 3-month average volume: 1,123,500