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H&R Block, Inc. Message Board

  • client9.nola client9.nola Oct 11, 2012 7:53 PM Flag

    My Thursday Technical Analysis For Sprint

    Going to do this in a new format:

    Monthly: Bullish but becoming overbought, Bollinger top is at 6.37 and support is at 5 EMA (4.79).

    Weekly: Bullish with Embedded Stochastics. Support was at 10 EMA (5.11) and blew through 5 EMA resistance (5.43 - which now can be considered a potential support area). Bollinger top is at 6.33).

    Daily: Bullish w/ caution: Bollinger top is at 5.84. Near term support is at 5.32 (20 SMA) and Stochastics have crossed out of oversold area. Downside risk to change trend is at last low of 4.90, but like I stated 5.32 is the 20 SMA potential support. A/D line trended lower from yesterday (yesterday it was up).

    Conclusion:

    The action that took place today was mostly sellers, could it happen again tomorrow on no news? Perhaps. If a momentum trader was to buy Sprint on the close today the sell point would be at 5.84 (not much profit in the trade).

    This is an untradeable situation going off these three charts. So I look to the hourly. The last break low on the Hourly is at 5.51 (10 EMA) and $5.99 is the Bollinger top. If one wants to buy Sprint tomorrow on the open, that is the range.

    If 5.50 breaks then 5.28 is the potential support. If 6.04 recent high breaks then you're looking at a panic buying situation that may not last long (similar to the panic buying of SAND, where I had to sell out to protect gains).

    Hope this helps some folks here and those who wish to bash me and throw cat calls at my TA.... I made (and banked) just over $1,100 today on CLWR.

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