Manager: Michael Arold
Covestor model: Technical Swing
Disclosure: Long S
Sprint’s (NYSE: S) stock is currently printing a wonderful chart. The stock is a classical turnaround play and the weekly pattern is showing a nice pennant structure:
Source: StockCharts.com
From a technical standpoint, the stock could easily run significantly higher.
On a shorter time frame, S has been very strong in the last two months, also in relative terms, measured vs. the S&P 500. Volume action has been great as well, so I believe a breakout could happen soon:
Source: StockCharts.com
A potential catalyst: Apple signing up Sprint for the iPhone. Rumors are already circulating.
Source:
“Apple job listing points to Sprint iPhone?” intomoblie.com, 5/17/11
