Sprint Corporation (NYSE:S) Daily Technical Review & Outlook

Sprint Corporation (NYSE:S) fell by -0.70% in Thursday’s trading session from $7.19 to $7.14. The price has fallen in 7 of the last 10 days and is down by -7.87% over the same course of time. There was a decrease in both volume and price. This is usually interpreted as a good sign as traders widely believe falling stock should see declining volume. Traded activity experienced a fall of -10.93 million shares and in total 9.66 M shares exchanged hands for about $68.99 million.

Inside S’s Recent Trend

Sprint Corporation (S) lies in the lower of a wide and falling trend in the short term, and this will normally pose a very good buying opportunity. A break down through the resistance trend line at $7.09 will initially point to a quick declining speed. Short-term traders are anticipated to see a retreat of -11.74% over the course of a quarter and, with 90% chance the price will be floating in the range of $6.26 and $7.31 in this timeframe.

Sprint Corporation Technical Signals

S has witnessed its long term and short term MA triggering a sell signal. Many traders watch for long-term averages to cross above short-term averages to signal the beginning of a downtrend. Upon corrections, the price will meet resistance from the averages between $7.32 and $7.87. A buy signal will be generated if it crosses above any of these levels. The downbeat movement of both volume and price during the recent session is interpreted as a good sign because traders usually believe falling stock should see declining volume.

Sprint Corporation (NYSE:S) Support And Resistance Levels

There is no support from accumulated volume below today’s level and given the right condition the stock may perform very badly in the next couple of days. In case of gains, the next resistance from accumulated volume will be at $8.20, $8.55 and $8.87.

Sprint Corporation (S) Risk Assessment

A volatility based measure Bollinger Bands suggests this stock poses high risk. In the most recent session, the stock price hovered around $0.15 between high and low, or 2.13%. The average volatility for the past week stood at 4.09%.

Sprint Corporation is in oversold territory based on Relative Strength Index reading (17). In some cases it takes more time for the trend to shift while the stock is being oversold and the Relative Strength Index keeps moving.

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