stockcharts.com
Notes:
MACD - bullish.
Remains under a resistance level - bearish.
Under long term moving averages - bearish.
Favorable accumulation indicators - bullish
"Cup and handle chart formation" - bullish
Outside of TA, CLWR has held up well under market decline pressure. Stanton's purchase of open market shares adds confidence within the context of many unknowns, turbulent times for the sector, and pending announcements about potential deals, funding, products, and much wild ruminations about impacts of loose cannons including LightSquared. These concerns could be overshadowed by one major or a string of lessor but cumulative announcements. In the real world, LightSquared does not matter as much as moving forward with adequate funding and objectives. LightSquared, DISH Networks, COX, Comcast .. pick a combination as it matters more what the plan they carry forward would be than the exact player roster. With funding and objective to build out the network for partners who will aggressively develop the devices, services that result in millions of subscribers, Clearwire will grow, the spectrum will get used, and the stock will likely rise.
"What's behind curtain number 2? Is it the Big Deal of the Day?" The overriding theme of CLWR is that a big deal will develop if they are open to opportunities, are efficient users of capital, and the market for WBB services continues on the current schedule. The Big Deal may or may not be announced on Oct 7. Eventually, if Clearwire remains on course and doesn't implode, it will. |
