andrew.berg
Long

Sprint bounce off from major support

NYSE:S   SPRINT CORP
Sprint             is expected to report a smaller loss than in the first quarter as a massive network overhaul comes close to an end. Investors will look for any update on the company's planned $32 billion bid for T-Mobile, expected to be announced in the next few months. The bid has met with skepticism from regulators, who worry it could reduce competition in the near-saturated wireless market.

It has earnings today before market open. Map out levels to take decisions and react. I will be a buyer close to big support level at $7.50 which acted like resistance earlier. Yesterday, we had day #1 with pivot high at $8.08, above that expect to see more buying with potential first target at $8.60ish, next resistance at $9.50-.75 area.
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