Stock Picks – Sprint Nextel Corp-S

by Sam Collins | February 10, 2010 4:56 am

 

Sprint Nextel Corp. (S[1]) — This telecommunications service provider has been in a bear market since 2006, falling from over $24 to under $2 in late 2008.  

 

 

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 (MACD)[2], 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. 

S&P rates the stock a “four-star buy” with a 12-month target of $5. My technical target for this stock is also $5. 

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• Profit From the Fed’s Rate Hike[3]
• Wal-Mart Headed for a Fall[4]
• 10 Tips to Getting Started With Technical Analysis[5] 

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