One under-$10 stock that's starting to move within range of triggering a near-term 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 has been trending lower in 2013, with shares off by 11%.
If you take a look at the chart for Leap Wireless, you'll notice that this stock has been trending sideways and consolidating for the last two months, with shares moving between $5.31 on the downside and $6.28 on the upside. Shares of LEAP have just started to trend back above its 50-day moving average at $5.81 a share. That move is quickly pushing the stock within range of triggering a near-term breakout trade above the upper-end of its recent range.
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