Sprint Nextel Close to 200 Day Moving Average

Published on Wednesday, 01 September 2010 05:48 Written by Danny Miller

New York, September 1st (TradersHuddle.com) - Shares of Sprint Nextel Corporation (NYSE:S) traded at $4.06 close to its 200 day moving average currently set at $4.06. Sprint Nextel's price action is just above this key support level, and it will certainly raise traders attention, as a possible trading opportunity.

Sprint Nextel Corporation (NYSE:S) offers a range of wireless and wireline communications services. The Company develops, engineers, and deploys various technologies, including two wireless networks offering mobile data services, instant national and international push-to-talk capabilities.

Latest price action range, defined by a peaks and troughs algorithm places calculated support at $3.82 and calculated resistance at $4.56. These levels will certainly be watched by traders, as they provide insight into the latest price dynamics defined by Sprint Nextel stock.

Traders wanting to establish a position on Sprint Nextel will be looking at the price action for evidence of buying near the 200 day moving average, and opening a position as close as possible to this important level. Also traders will be looking at the latest price action, via the stocks current range previously defined for insights of other key levels that might affect their upside or downside.