Sprint (S) has made a great rally in a little more than one year from below $3 to over $9.50. I have been positive on it for a while and I suspect some Real Money readers are wishing they had bought more.
Would have. Could have. Should have. Don't kick yourself too much as it looks like S still has room to run.
In this one-year daily chart of Sprint, above, we can see prices are above the rising 50-day and 200-day moving average lines. A bullish golden cross can be seen early in the advance in late June. The On-Balance-Volume (OBV) has risen steadily the past year, supporting and confirming the advance. Momentum has slowed in recent months, but it doesn't seem to have hurt the uptrend.
This weekly chart is bullish. Sprint is above the rising 40-week moving average line. The weekly OBV line is pointed up and the MACD oscillator is overall bullish, but we may see a liquidate-longs sell signal.
In this Point and Figure chart of S, above, you can see there is only limited resistance above the market and a trade at $11.50 would open up the possibility of further gains to the $21.25 area.
Bottom line: I would continue to trade S from the long side, risking a close below $7.50.