SUMMARY
Sprint Corporation (S) has been putting in a multi year Cup & Handle pattern as shown in below chart. Price has already broken out of the handle portion and that's bullish. Elliott Waves states that news or events shall arrive to justify the forecast. Well, perhaps the Sprint - TMobile merger would be exactly that!
The fully labeled chart shows that an ABC ZigZag composed the first half of the Cup and an impulse of five waves the second half. The handle portion was also an abc and the blue waves outline the probable price pathway. The MACD also has given a bullish buy signal (blue circle).
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