Leap Wireless International

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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 2.6% at $6.89 in recent trading.

Today's Range: $6.69-$7.12

52-Week Range: $4.28-$11.30

Volume: 719,000

Three-Month Average Volume: 2.1 million

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From a technical perspective, LEAP is pushing higher here with lighter volume. This move is quickly pushing LEAP within range of triggering a near-term breakout trade. That trade will hit once LEAP manages to take out some near-term overhead resistance levels at $6.92 to its 200-day moving average of $7.32 with high volume.

Traders should now look for long-biased trades in LEAP as long as it's trending above $6.50, and then once it sustains a move or close above those breakout levels with volume that's near or above 2,085,050 shares. If that breakout triggers soon, then LEAP will setup to re-test or possibly take out its next major overhead resistance levels at $8.50 to $8.75.

To see more stocks under-$10 that are making notable moves higher today, check out the Stocks Under-$10 Moving Higher portfolio on Stockpickr.

-- Written by Roberto Pedone in Winderemere, Fla.


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As of the time of publication, the author had no positions in stocks mentioned.

Roberto Pedone, based out of Windermere, Fla., is an independent trader who focuses on stocks, options, futures, commodities and currencies. He is also an outside contributor to Beconequity.com and maintains the website Maddmoney.net, which he sold to Blue Wave Advisors in 2008. Roberto studied International Business at The Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany.

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