Another under-$10 name in the communications services complex that's trading within range of a major breakout trade is Leap Wireless (LEAP), a wireless communications carrier that offers digital wireless services in the U.S. under the Cricket brand. This stock is off to a bearish start in 2012, with shares off by around 33%.
If you take a look at the chart for Leap Wireless, you'll notice that this stock gapped down big in April from over $8 to under $6.50 a share on monster volume. Following that gap-down, shares of LEAP continued to trend down and eventually hit a low of $4.68 a share. After hitting that low, shares of LEAP have been trading sideways between $4.68 on the downside and $6.43 on the upside. This stock has just moved back above its 50-day moving average of $5.75 a share, and it's now trading within range of triggering a near-term breakout trade.
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