Sprint Corp. (S) was a laggard in the telecom space, but the charts and indicators turned very positive in June -- and the rally isn't over yet.
In this one-year daily chart of S, above, we want to look closer at what went on in June. Prices rallied over the 200-day moving average line and we saw a bullish golden cross of the 50-day Simple Moving Average line and the 200-day line. Traders who follow moving average crossovers know that they are late but they still like the confirmation.
Prices are now above the rising, 50-day and the rising, 200-day averages. Prices "took off" in June for a vertical climb. The On-Balance-Volume (OBV) line has been strong all year. Momentum is not diverging from the price action.
Prices are above the rising, 40-week moving average line in this weekly chart of S, above. The OBV line has been rising all year, and the Moving Average Convergence Divergence oscillator is above the zero line. The rapid rise in the price of S can mean that prices take a breather of sorts before further gains. When S catches it breath, it could set it's sights on the $10 to $11 area as the next upside price target.