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Sprint’s beautiful chart – M. Arold

by Mick Weinstein|Published May 22, 2011

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

AUTHOR

Mick Weinstein

Mick is the Head of Editorial for Covestor, a financial journalist and online content specialist. Prior to joining Covestor, Mick was for five years the Editor in Chief and VP Content at stock market analysis website Seeking Alpha, where he built the editorial function as the site attracted over 3.5 million unique monthly visitors and developed an innovative platform for intelligent stock market discussion. Mick is a graduate of the University of Michigan, Ann Arbor.

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