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Leap Wireless International(LEAP) is a wireless communications carrier that offers digital wireless services in the U.S. under the Cricket brand. This stock is trading up 14% at $8.92 in recent trading.
Today's Range: $8.34-$9.06
52-Week Range: $5.50-$17.66
Three-Month Average Volume: 2,042,100
This stock is ripping higher today after RBC Capital analyst Jonathan Atkin raised his rating on the stock to outperform from sector perform and issued a new price target of $11 a share, up from $9 a share.
technical standpoint, the spike higher in LEAP today now sets up the stock for a big breakout if it can manage to trade above some past overhead resistance levels on high-volume.
Traders should now watch for a breakout to trigger if LEAP can take out $9.70 to $10 on volume that's close to or greater than its 2,042,100 shares. If we get a sustained move and close above those levels, then look for this stock to re-test its 200-day
moving average of $11.97 or possibly trend much higher.
I also featured Leap in "
5 Beaten-Down Tech Stocks Poised to Rebound."