One communications services player where insiders are buying up a solid amount of stock in is NII Holdings ( NIHD), which provides wireless communication services under the Nextel brand through operating companies located in selected Latin American markets. Insiders have clearly spotted some deep value here since this stock is down by over 50% in 2011. NII Holdings has a market cap of $3.43 billion and an enterprise value of $5.19 billion. This stock trades at a cheap valuation, with a trailing price-to-earnings ratio of 11.31 and a forward price-to-earnings of 10.02. Its estimated growth rate for this year is -17.6%, and for next year it's pegged at 22%. This is far from a cash-rich company; the total cash position on its balance sheet is $2.64 billion, and its total debt is $4.46 billion. The president just bought 38,770 shares, or $815,056 worth of stock, at $20.48 to $21.03 per share. From a technical standpoint, NIHD is currently trading well below both its 50-day and 200-day moving averages, which is bearish. This stock has been stuck in a nasty downtrend since August, where the stock has been consistently making lower highs and lower lows, which is also bearish. The stock has had some decent trading bounces during that period, but ultimately, the stock has done nothing but trend lower. If you're interested in NIHD from the long side, then I would look to buy some shares for a trade if the stock can breakout above some near-term overhead resistance at $20.47 on high-volume. Look for volume on any move above that level that registers near or above 3,160,320 shares. If we see that move, then this stock could be good for a trade back towards its 50-day moving average of $24.28 a share. Use a mental stop just below $20.47 if you're looking to play this potential breakout. NII Holdings, one of Lone Pine Capital's top holdings, shows up on a recent list of 5 Telecom Picks for 2012.