Sprint Nextel Screams Higher

Shares of Sprint Nextel S are sprinting higher this afternoon; currently, shares are higher by 9.20%, trading at $3.56. The stock has been moving largely lower over the past three months, recently bouncing off of the $3.00 level. Sprint Nextel is now finding initial resistance at the 13-day moving averages, though if they were to consolidate at these levels for a few days, a break out could occur. Price targets on a break out would be $4.00, then $4.25. Note that Sprint Nextel has 3.10% short interest. Sprint Nextel Corporation is a holding company, with its operations primarily conducted by its subsidiaries. Sprint is a communications company offering a range of wireless and wireline communications products and services for individual consumers, businesses, government subscribers and resellers.