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TheStreet Open House

7 Stocks Under $10 Surging Higher

Leap Wireless

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Leap Wireless (LEAP) is a wireless communications carrier that offers digital wireless services in the U.S. under the Cricket brand. This stock is trading up 9.5% at $5.53 in recent trading.

Today's Range: $5.29-$5.62

52-Week Range: $4.68-$14.08

Volume: 2.1 million

Three-Month Average Volume: 2.4 million

>>10 Top-Rated Tech Stocks That Pay Big Dividends

From a technical perspective, LEAP is bouncing here right around some major support zones at $5 to $4.91 with decent volume. This stock is quickly approaching its 50-day moving average of $5.74.

Traders should now look for long-biased trades once LEAP can sustain a move or close over $5.74 with high volume. Look for volume off that move that registers near or above 2,384,030 shares. If we get that action today or soon, then LEAP could easily re-test and possibly take out its next major overhead resistance levels at $6.75 to $6.92, or even its 200-day moving average of $7.73.

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