Sprint (S) at 1991-1993 resistance!

[scexglobal]

Will it bounce or break through? If it breaks, it could turn lower than during the U.S. 1991-92 recession, certainly a BFD.

Maybe somebody else could chime in on the fundamentals?

 

[nazzdack]

It's a "support" level, not resistance. It can go lower but should be met with decent buying at each downtick from bottom-feeders and funds who may attempt to force a takeover or restructuring. We'll see.

 

[FerdinandAlx]

Price support and resistance on your time frame are set in relation to the company's fundamentals, not in relation to itself as is the case on shorter time frames.

 

[scexglobal]

If it's based on fundamentals, then why is the resistance line at $10/share, which is a psychological level.

 

[mindmerge2k]

Sprint Nextel-S target lowered to $11 from $18, maintain Neutral@BOFA