Sprint Corp (fka S)

[AnthonyJackson]

Sprint Corp (NYSE:S) carries the most downside risk of any mega cap in 2017. At almost a $35 billion market cap, this cell carrier is overvalued on almost any metric. Look at the price action in 2016. At the start of the year it traded as low as $2.20 but in December 2016 it hit $9.00. This is a whopping 310% gain in one year. A coming correction will see the stock plummet to $6.50-$7.00. Even there, Sprint will remain overvalued but investors will likely buy it up. I am a seller, looking to profit on Sprint for this collapse. There is also a classic institutional sell program being initiated, seen by the bearish inside bar pattern. It is days away from starting its large decline.