NEW BULLISH Plays
Sprint-Nextel Corp. - S - close: 3.15 change: +0.07
Stop Loss: 2.89
Current Gain/Loss: unopened
Time Frame: 6 to 9 weeks
New Positions: Yes, see below
Why We Like It:
Big cap telecom names like AT&T (T) and Verizon (VZ) have been performing well in recent weeks. Their smaller rival Sprint (S) has also been on the upswing. Shares of S have broken out past resistance at the $3.00 mark after spending several months forming a bottom under the $3.00 level.
I am suggesting we launch small bullish positions at the open tomorrow. We'll use a stop loss at $2.89.
Our target is $3.70.
Suggested Position: buy S stock @ (the open)
Entry on June xx at $ xx.xx
Earnings Date 07/26/12 (unconfirmed)
Average Daily Volume = 53 million
Listed on June 19, 2011