Sprint Nextel Corporation
) -- This leading wireless service provider was in a bear market
from 2006 to 2008, falling from over $24 to under $2.
On Feb. 22, at $3.55,
, "This stock is in a sideways trend, but accumulation of the
shares appears to be picking up, and a saucer bottom may be
forming. Along with the positive accumulation, the stochastic has
been issuing buy signals, and another internal indicator, the
Moving Average Convergence/Divergence (
, is undervalued and issued a buy signal last week.
"The change in trend could be at a very early stage, so the
technical picture is not purely positive, but recent changes in
opinion by respected analysts in the absence of a negative
technical picture make this an intriguing speculation."
And, on March 18, that
review was repeated
Last week, despite heavy selling in the broad market, Sprint
broke from a triple-top on very heavy volume.
Our trading target is raised to $6, but a run to $10 by year-end
is possible. S&P rates the stock a "four-star buy" and recently
increased its 12-month target to $6 from $5.
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