It was just last Friday that Clearwire Corporation (NASDAQ: CLWR) was up double-digits on word that the FCC was going to plan a 4G roll-out on an accelerated basis.? The move was part of an expanded plan to accelerate and expand 4G broadband internet and communication networks as part of a national economic and jobs movement which brings 4G to more rural areas.? If this is good for anyone, it is good for Clearwire and its 4G Clear wireless network.
This will also be bringing down many regulations on equipment and requirements.? Again, that is also good for Clearwire.? If you have used wireless internet connectivity, chances are high that you understand that the equipment has had severe limitations to it.
One other thing that needs to be paid attention is the Clearwire chart.? The stock ran into resistance right above the $1.40 level on Friday and now we are back at the $1.40 level.? This is reaching a resistance level of the recent past (was prior support) but the 200-day moving average is up at $1.70 today.? That leaves a lot of space to run (some 20% or more) if the profit taking abates and if buyers decide to start nibbling back in.
Another issue is that you cannot mention Clearwire without Sprint Nextel Corporation (NYSE: S).? This keeps getting bought higher as well and Sprint shares are close to challenging 52-week highs.
Another boost came from the AT&T Inc. (NYSE: T) acquisition of Nextwave Wireless Inc. (WAVE) last week for its wireless spectrum interests held in the U.S. and Canada.? Nextwave also sits on substantial spectrum assets and is often considered by investors as a controlled entity under Sprint.
JON C. OGG
Source: http://247wallst.com/2012/08/06/speculators-still-keep-buying-up-clearwire-clwr-s-t-wave/
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