S trade ideas
Look Out!! Short-Term Decision Ahead for Sprint CorpOn March 29, 2017 Sprint Corp (S) crossed above its 100 day moving average (MA). Historically this has occurred 197 times. When this happens, the stock does not always continue to rise. It has a median gain of 6.404% and maximum gain of 25.566% over the next 15 trading days.
When we take a look at other technical indicators, the relative strength index (RSI) is at 47.9289. RSI tends to determine overbought and oversold levels. I personally use anything above 75 as overbought and anything under 25 as oversold. The current reading declares the stock is neutral and looking for direction. The RSI was trending down, but has broken that trend and could begin heading up even if it is short term.
The true strength index (TSI) is currently -10.0885. The TSI determines overbought/oversold levels and/or current trend. I solely use this as an indicator of trend as overbought and oversold levels vary. The TSI is double smoothed in its calculation and is a great indicator of upward and downward movement. The current reading declares the stock is trending down.
The positive vortex indicator (VI) is currently 1.0030 and just crossed over the negative indicator. The VI determines current trend and direction. When the positive level is higher than 1 and higher than the negative indicator, the overall price action is moving upward. When the negative level is higher than 1 and higher than the positive indicator, the overall price action is moving downward. The current reading declares the stock is trending upward and typically does so for at least a few days.
Considering the moving average crossover, RSI, TSI, and VI levels, the overall near-term stock direction appears to be slightly trending upward. Based on historical movement compared to current levels and the current position in a wedge/triangle pattern, the stock could gain 2.03% over the next two weeks. The stock is about 21 days out from the apex of a wedge pattern. Typically, the stock will break significantly up or down before it actually makes it to the apex. The stock could hit the resistance line (top of trend channel) and continue onward. If the breakthrough happens on strong volume, it is a sign of continued upward movement. The inverse is different if it breaks through the support line (bottom line in wedge) which is around 8.20. If the stock breaks down with volume it could begin a new trend or use the dotted white line as a new support line. If this occurs, expect the stock to continue down.
Merger Sprint-T-Mobile Speculation - release March 7thAlready for a few months the market is speculating on a merge between T-Mobile and Sprint. Ever since the stock is in a rise and increasing trend.
On March 7th the CEO will talk on a conference from Deutsche Bank. This announcement is also on their website and you can follow the live-stream.
The official announcement says:
OVERLAND PARK, Kan.--(BUSINESS WIRE)-- Sprint (NYSE: S) Chief Financial Officer Tarek Robbiati will speak at Deutsche Bank’s Media & Telecom Conference in Palm Beach, FL on Tuesday, March 7, 2017 at 12:55 PM ET.
A live audio webcast of this session will be available at www.sprint.com The replay will be available shortly following the presentation.
About Sprint
Sprint (NYSE: S) is a communications services company that creates more and better ways to connect its customers to the things they care about most. Sprint served 59.5 million connections as of Dec. 31, 2016 and is widely recognized for developing, engineering and deploying innovative technologies, including the first wireless 4G service from a national carrier in the United States; leading no-contract brands including Virgin Mobile USA, Boost Mobile, and Assurance Wireless; instant national and international push-to-talk capabilities; and a global Tier 1 Internet backbone. Sprint has been named to the Dow Jones Sustainability Index (DJSI) North America for the past five years. You can learn more and visit Sprint at www.sprint.com or www.facebook.com and www.twitter.com
View source version on businesswire.com: www.businesswire.com
Source: Sprint
S retraceIt looks like the recent price movements of sprint corp are characterised by three channels. The trending down RSI may imply a retrace back one or two channels.
Trump & Softbank 85% of Sprint StockDeal with Trump & softbank to invest $50 billion in USA & add 50 thousand jobs. Yes, soft-bank owns 85% of Sprint stock....up $1.10 since announcement...WOW!!
"S" ready to break and runBuyers are going in and sellers don't show enough power to move the price down. So a long position in the bottom of the triangle maybe good, waiting for break out of the resistance.
#SPRINT CORPORATION BUY SETUP#SPRINT CORPORATION -expansion bullish at support MA21 TRIGGER BUY ABOVE DOJI CANDLE
S - bull flagS simple setup
break abouve recent highafter price createt a bull flag
note the vol is high on up days and low on down days
high potencial
targets on chart
great flag formation for a breakout The EMA9 is a follower of momentum and the price respect that, the only thing that I am concern is that is a little overbought
1 Day Sprinting BullOverall monthly there is a downwards wedge, signifying breakout. Weekly trend has a strong upwards trough from 13-14th. At the daily level, 3 Green Soldiers Candlesticks can be displayed at the 5 minute ticks, showing strong buying pressure from bulls prior to close on the 14th. Looking at the S/RSI indicators below, displays low 30.00s, prior to yesterday's close, signalling oversold conditions; my expectation is that execution will be easy to come through. However, if there is high supply volume of sells, we can expect the price to crash; though not-likely.
I am feeling with 75% confidence that this is bearish outlook for tomorrow. All may change with the 08:00 AM news.
Strategy: Enter @ $3.49-3.50 depending on pre-market trading activity. Set stop loss limit at $3.41, since it would have to tank and fall through the $3.45 support. If it breaks the $3.52-3.53 resistances, with strong lengthy candles, we can expect a target exit price of $3.57/8 and/or above. The risk reward ratio is 1.33 conservative to 2.33 aggressive.
